18-UNIT INVESTMENT PROPERTY WITH IDEAL LOCATION & 5-YEAR WARRANTY!
New construction, stone & vinyl, 18 unit apartment building to be constructed. Absolutely fantastic rental location near major east side shopping, Irving Oil Refinery, Industrial Park and more! Perfect for Irving Oil employees who can walk to work while their families can walk to McAllister Place Mall, Wal-Mart and surrounding malls. Apartment building locations don't get any better than this!
Top quality finishes throughout. This building is being quality built by AE McKay Builders with 5-year major structural warranty included! A rare find as you know on commercial buildings!
Building consists of twelve - 2-bedroom units approx 750 sq ft each and six -1-bedroom units approx 576 sq ft each. Exterior finish is low maintenance vinyl with an impressive full three story height stone facade entrance. Foyer, laundry room and all 18 bathroom floors are ceramic tile with easy care laminate flooring in the rooms of the apartments. Each apartment comes with it's own laundry hookup but a coin operated washer and a dryer are supplied for those who require them bringing in extra income for the building owner.
Inclusions include brand new appliances:
18 hot water heaters,
18 fridges,
18 stoves,
18 stove fans
18 dishwashers
1 coin operated washer
1 coin operated dryer
Income
$156,400.
Expenses;
Each apartment is on electric baseboard heat with a separate meter, so tenants pay their own heat & lights.
Insurance - $2000.
Heat & Lights - $2500. (common areas only)
Taxes - $29215.
Water & Sewage - $3500.
Snow & Garage Removal $2000.
Construction will take approx 6-8 months. Blueprints and survey on file for viewing.
Now is the time to take advantage of record breaking lending rates (prime at 2.25% 04/29/09, lowest since 1947!) and invest in your future.
Call Katherine Bacon today at 506-849-1678 or toll free across North America at 1-877-676-0300.