$1,750,000
$1,760,000
0.6%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 12/31/2023
Key Details
Sold Price $1,750,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Subdivision Crystalridge
MLS® Listing ID A2035926
Sold Date 12/31/23
Condo Fees $8,464
Originating Board Calgary
Year Built 2007
Annual Tax Amount $21,252
Tax Year 2022
Property Description
Welcome to a great investment opportunity in Okotoks, Alberta. Located on North Railway Street, this condo complex is within walking distance to wonderful local Okotoks businesses and is only a short drive to the city limits of Calgary. Now selling a block of 15 residential units (14 - 2 Bedroom units and 1 - 1 bedroom unit) this sale represents half of the total units in the complex 15/30 units. The condo complex has a convenient elevator, underground parking, and sits on a large corner lot. Condo fees are $349/month for the one bedroom unit and up to $552/month for many of the two bedroom units. Owners pay all electricity expenses for their respective units. Condo fees include heat, water, sewer, garbage and lawn maintenance. The current gross monthly revenue for all 15 units is $21,195 a month ($254,340 per annum) but rents are expected to increase to a total gross monthly of $23,795 a month come July 2023 ($285,540 per annum). Monthly expenses are $13,696 ($164,363 per annum). Each of the 15 units are separately titled and the owner would consider selling individually, 2, 4 or 6 unit blocks.
Location
Province AB
County Foothills County
Zoning NC
Exterior
Roof Type Asphalt Shingle
Total Parking Spaces 15
Building
Foundation Poured Concrete
Structure Type Concrete,Stone,Vinyl Siding,Wood Frame
Others
Restrictions None Known
Ownership Private
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