. This attractive 4-plex in Blackfalds is listed at $675,000 and generates a gross rental income of $57,600 per year. With tenants covering all gas and electric costs via individual meters, the owner is responsible for water, sewer, and garbage services at approximately $350 per month (around $4,200 annually). Each unit features 2 bedrooms, with a 4-piece bathroom in the basement and a 2-piece bathroom on the main floor. Additional annual expenses include property taxes of $5,656, insurance of $4,934 (as reported last year), and minimal maintenance costs—about $1,000 in miscellaneous expenses in 2024. Management fees are set at 8.5% of the gross income, which comes to roughly $4,896 per year, and the property has enjoyed no vacancies in recent years. With these expenses, the net operating income comes to approximately $36,914, resulting in a cap rate of roughly 5.5%. Located beside both the Eagle Hockey Area and the Blackfalds Library, this property presents a compelling investment opportunity in a prime location.
Address
5316 Lansdown Avenue
List Price
$675,000
Property Type
Multi-Family
Type of Dwelling
4 plex
Style of Home
Bi-Level
Area
Blackfalds
Sub-Area
Blackfalds - Other
Floor Area
2,234 Sq. Ft.
Year Built
1978
MLS® Number
A2192425
Listing Brokerage
Maxwell Real Estate Solutions Ltd.
Basement Area
Finished
Postal Code
T0M 0J0
Zoning
R2
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