Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
Multi-family For Sale 709 Hammond Drive S, Fox Creek, Alberta
37

Multi-family For Sale $399,900 709 Hammond Drive S, fox creek, Alberta

MLS#: A1224429

RE/MAX ADVANTAGE (WHITECOURT)
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Summary
Status
Active

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Address
709 Hammond Drive S, fox creek, Alberta
Size
2426 sqft
Listing Type
For sale
Property Type
Multi-family
Commercial Type
Multi-Family

Photos

37

Description

A well-maintained 4-plex is up for sale! This 4-plex is fully occupied with longer term leases!The building contains 4 - 3 BR , 1 1/2 BA suites with a full kitchen, dining area, living room, 1/2 bath and a storage room on the main floor, along with 3 BR, a full bathroom, mechanical room and laundry area downstairs. 3 suites are unfurnished and one has just been furnished with all new furniture! There are patio doors leading from the main floor living space onto the outdoor deck. The suites are designed in a bi-level format, with the living space upstairs on the main floor and the bedrooms downstairs on the lower level. Two units face the street and the other two face the back yard. Paved parking stalls are located to the front of the building, coming directly off the street. The building was built in 1980 and is constructed of wood framing and a PWF foundation. It is a wood-sided building with asphalt shingles on the roof. Each of the units has a gas furnace and hot water heater. RENOVATIONS: All 4 suites have had major renovations as is obvious on viewing the suites. These renos include new paint, new vinyl plank flooring, bathroom renos, 2 new high-energy efficiency furnaces, 3 new hot water heaters and all 4 new decks. One suite has just been furnished. It has very nice furnishings throughout. The seller has also installed all new front and rear entrance steps in early July 2022 - well over $10,000 in improvements since May of this year. The tenants pay their own heat and power while the owner pays the monthly water and sewer costs. CAP rate on this investment property is 8.34% and the revenue makes a good income for an investor.Total Expenses$19,666Net Operating Income $ 41,299 Capitalization Rate 8.34%Property Value $495,000 ($123,750 / door) Cash required with new 80% CMHC financing - $99,000 Annual Cash Flow after Debt Servicing $ 14,498Annual Cash on Cash Return – Year 1: $16,219 / $99,000 = 16.4% Total Return in year 1 – ($16,219 + $9,414 mortgage paydown) / $99,000 = $25.9% (id:15472)

Additional Information

Location
Land
Building
Financial
Sales Data
Mortgage Calculator
City fox creek
Province Alberta
PostalCode T0H1P0
Country Canada
Street Address 709 Hammond Drive S
Property TypeMulti-family
Transaction TypeFor sale
Ownership TypeFreehold
MLS #A1224429
AcreageNo
SewerMunicipal sewage system
Zoning DescriptionR3
Property TypeMulti-family
Size Interior 2426 sqft
Total Finished Area 2426 sqft
Type Multi-Family
Utility Power Single Phase
Utility Water Well, Municipal water
Parking Space Total 4
Plan 7620609
Appliances Washer, Refrigerator, Range, Dryer
Architectural Style Bi-level
Basement Development Finished
Basement Type Full (Finished)
Constructed Date 1980
Construction Material Wood frame
Cooling Type None
Fire Protection Smoke Detectors
Fireplace Present False
Flooring Type Laminate, Linoleum
Foundation Type See Remarks
Heating Fuel Natural gas
Heating Type Central heating
Price 399900.00
Listing Contract Date 2022-06-02
Lease 0.00
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Specialists

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Specialists

Eugen Klein

B.Comm, FRI, CLO, CRES, ARM®, RI, CCIM, CIPS, ICD.D

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