$350,000

This property is in the downtown core with great exposure & lots of public parking to the west of the building as well as street parking. Currently there are 4 tenants and room for more. There is a general assessment for 2022. Current rent is $48,240.00 per year. The front end used to have a restaurant which would increase the rent substantially. Expenses run around $18,000 annually which includes the insurance, taxes, utilities, maintenance & snow removal. The owner is currently paying these expenses. A party wall agreement is in process of being completed. The roof is torch on, the 2 furnaces are set up with air conditioning. Recently the furnaced were serviced professionally. There are 3 hot water tanks in the building. One is due to be replaced. There are 2 common area bathrooms. In 1990 the windows and framing were renovated. Gas meters were switched to one bill to save on costs & could be reversed. There are no leases or damage deposits with the tenants. (id:50955)

Property Details

Building

Land

https://www.realtor.ca/real-estate/26390942/5137-51-av-drayton-valley-drayton-valley

Heather D. Malin
Associate

(780) 621-8001
(780) 542-6040
www.heathermalin.com/
https://www.facebook.com/heathermalinremax/?ref=bookmarks

RE/MAX Vision Realty
Po Box 6484
Drayton Valley, Alberta T7A 1R9

(780) 542-4040
(780) 542-6040