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38 Wildrose Street - How to make money in Real Estate. Find a great property, in excellent condition, with a solid return (5% CAP Rate) and buy it! Hold on to it and eventually you can run for US President.... This 4 plex is the first part of the equation. Steel framed building originally built by the Canadian Armed forces, moved to this location in the early 1960's. It's been totally renovated, is rock solid and impeccable. 2 - 3 Bedroom units and 2 - 2 Bedroom units, all with newer kitchens and baths, flooring, paint, siding, shingles, basement windows and more. Central hot water heating with a modern boiler, 2 new hot water tanks, septic field installed in 2011 and water well drilled in 2017 (370 feet deep bailed at 50 igpm). Located just south of Burman University. Owner currently occupies unit 3. RMS dimensions are as follows... Unit 1: 3 bedroom Upper East side is 1100 ft2. Unit 2: 2 bedroom Upper West side is 800 ft2. Unit 3: 3 bedroom Lower East side is 871 ft2. Unit 4: 2 bedroom Lower West side is 679 ft2. Utility room (lower level) is 286 ft2. Shop/Office building is 710 ft2. Shed is 10x20 and powered. There is gravel parking available for at least 8 units. The Shop/Office is a 3 season building, heated all year. It is a unique but awesome place to have a hobby, run a small enterprise or just get away from it all. Current rent is Unit 1: $1150, Unit 2: $1050, Unit 4: $950. Main floor has 11 foot ceilings. This is a strong business opportunity combined with a meticulously maintained, immaculate place to live or rent. Owner occupiers may be able to get in with 5% down on the first $500K and 10% down on balance...and use up to 100% of rental income to qualify. Return on investment is staggering!

Property Details

  • ID: CA0158157
  • Year Built: 1960
  • Status: Active
  • Above Ground Sq. Feet: 1,900
  • Property ID: 101387275
  • Beds: 10
  • Storeys: 0
  • Estimated Annual Taxes: $1,714
  • Style: Bungalow
  • Baths: 4 (Full: 4 3/4: 0 1/2: 0 Other: 0)
  • New Construction: No
  • County: Lacombe County

Features

FUEL TYPE Natural Gas
Heat Type Hot Water, Boiler, Baseboard heaters
Other Water Source - See Remarks, Tax Year - 2018, Sewer Type - Field,Septic Tank, Roof - Shingle - Asphalt, Flooring - Carpet,Cork,Laminate,Linoleum
Zoning Hamlet
Listed By Richard Pochylko of CENTURY 21 Advantage