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The Waldon on 124 Street 10622 124 Street NW Edmonton, AB

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The Waldon on 124 Street 10622 124 Street NW Edmonton, AB FOR SALE The Waldon on 124 Street 10622 124 Street NW Edmonton, AB PRICE REDUCED REDEVELOPMENT POTENTIAL Asking Price $1,100,000 Property Highlights • 6 Unit Walk Up Apartment Building • Strategically situated in the heart of the Westmount neighborhood along 124 Street • Steps away from boutique shops, restaurants, grocery stores, various amenities and river valley • Located within walking distance to the Valley Line West LRT Station and the Brewery District • Property offers redevelopment opportunity • Leases and income in place • Strong rental market Kyle Barton John Shamey CUSHMAN & WAKEFIELD Senior Associate Associate Partner Edmonton Suite 2700, TD Tower 780 733 6409 780 702 8079 10088 - 102 Avenue [email protected] [email protected] Edmonton, AB T5J 2Z1 Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. No warranty or representation, express or implied, is made to the www.cwedm.com accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price,rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. Aug. 23, 2021 FOR SALE The Waldon on 124 Street 10622 124 Street NW Edmonton, AB Property Details Municipal Address: 10622 124 Street NW Edmonton Built: 1950 (tbc) Legal Description: Lots: 14,15; Block: 29; Plan: RN22 Parking Area: 6 Surface Stalls Zoning: Low Intensity Business Zone (CB1) Land Area: 9,540 SF Neighbourhood: Westmount Redevelopment Potential: Land Price ($115 per SF) Building Size: 6 Units Property Taxes: $7,807.71 (2020 est) Rent Roll Analysis RENT ROLL Tenant Unit Type Monthly Rent Gross Annual Income Vacant 1 1 Bedroom $ 975.00 $ 11,700.00 Occupied 2 1 Bedroom $ 875.00 $ 10,500.00 Occupied 3 2 Bedroom $ 950.00 $ 11,400.00 Occupied 4 2 Bedroom $ 1,025.00 $ 12,300.00 Occupied 5 2 Bedroom $ 895.00 $ 10,740.00 Occupied 6 2 Bedroom $ 895.00 $ 10,740.00 GROSS RENTAL INCOME 6 Suites $ 67,380.00 Vacancy Loss (Projected) 5.00% -$ 280.75 -$ 3,369.00 EFFECTIVE GROSS INCOME $ 64,011.00 EXPENSES Type % of EGI Per Unit/Per Year Per Annum Property Taxes 2021 11.7% $ 624.26 $ 7,491.12 Utilities Seperately Metered Projected 11.7% $ 625.00 $ 7,500.00 Repairs and Maintenance Projected 7.8% $ 416.67 $ 5,000.00 Advertising Projected 0.3% $ 16.67 $ 200.00 Insurance Projected 4.4% $ 233.33 $ 2,800.00 TOTAL EXPENSES 35.9% $ 1,915.93 $ 22,991.12 NET OPERATING INCOME $ 41,019.88 Asking Price: $1,100,000 Cap Rate: 3.73% Value ($/unit): $183,333 Kyle Barton John Shamey CUSHMAN & WAKEFIELD Senior Associate Associate Partner Edmonton Suite 2700, TD Tower 780 733 6409 780 702 8079 10088 - 102 Avenue [email protected] [email protected] Edmonton, AB T5J 2Z1 Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. No warranty or representation, express or implied, is made to the www.cwedm.com accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price,rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. Aug. 23, 2021.
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