3514 51 AVE

Property Description

Solid Income Four Suite Apartment (3 Two Bedroom Units and 1 One Bedroom Unit) with a great location close to transit, shopping, and just blocks from the Red Deer Hospital. Vacancy Rate has been Near Zero on this great income property and it generates $37,560.00/year at the current rental rates. Recently Installed Coin Laundry is expected to generate another $1000-$1500/year. Tenants pay their own power and gas; water and sewer are paid by the owner. All suites have been renovated over the past 6 years and only the One Bedroom has the original cabinets. 30-year singles were added about 15 years ago, and insulation has been upgraded. 1 Furnace has been replaced, and 1 has been rebuilt. There are 4 off street parking stalls with power to each one. For complete details see Realtors® website.