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$ 624,900
Est. payment /mo
New
5402 54 Street Ponoka, AB T4J1L9
2,082 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2082
Square Footage 2,082 sqft
Price per Sqft $300
Subdivision Lucas Heights
MLS® Listing ID A2283104
Year Built 1976
Property Sub-Type Freehold
Property Description
Attention investors—this income-producing Ponoka fourplex offers four rental suites generating approximately $6,000 per month and $72,000 in annual gross rental income.The current suite mix includes two 2-bedroom lower suites rented at $1,200 per month each, one 3-bedroom main-floor suite rented at $1,400 per month, and a recently renovated suite rented at $2,200 per month with utilities included. Three of the four suites are responsible for their own natural gas and electricity, while the owner pays water for the property.The building has benefited from extensive improvements throughout. All suites have received updates including fresh paint, flooring, and electrical and plumbing improvements. Every suite also includes its own washer and dryer—an important feature for tenant convenience and long-term rental appeal.Additional upgrades include a repainted exterior, newer eavestrough, roof and some windows completed approximately eight years ago, all hot-water tanks updated within the past five years, and new bathtubs installed in two suites.Each suite offers two exits, while the corner-lot location provides rear parking along with additional street-side parking. The property is conveniently located close to schools, parks, and everyday amenities.At an asking price of $624,900, this property offers four income-producing units at approximately $156,225 per suite, with a gross annual income equal to approximately 11.5% of the asking price before operating expenses.Whether you are expanding an existing rental portfolio or looking to enter the multifamily investment market, this is an opportunity to acquire an established income property with strong rental revenue and many major improvements already completed.Current rental amounts, utility responsibilities, leases, and operating expenses are available for qualified buyers to review. Please allow appropriate notice for showings and do not disturb the tenants. (id:24570)
Location
Province AB
Rooms
Kitchen 0.0
Interior
Heating Forced air,
Flooring Laminate, Vinyl Plank
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 4
Garage No
Private Pool No
Others
Ownership Freehold
Virtual Tour https://youriguide.com/5402_54_st_ponoka_ab/
Listed by eXp Realty
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Larry Matira
Agent | License ID: 00587191