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www.cbre.ca/edmonton
FOR SALE
CASCADE APARTMENTS 10615 - 111 STREET NWEDMONTON, AB
PROPERTY HIGHLIGHTS
+ Cascade Apartments is a 3-storey, 33 unit walk up in the Queen Mary Park neighbourhood
+ The site is steps away from MacEwan University and the newly opened Rogers Place arena in the Ice District
+ Within walking distance to new LRT Metro line connecting the University of Alberta, NAIT, MacEwan University and Edmonton’s downtown core
+ Close proximity to a mix of retailers including grocery, drug, liquor, restaurant and services
Post-Secondary Schools Students
MacEwan University 19,606
Norquest College 11,552
NAIT 60,095
University of Alberta 37,830
NEARBY POST-SECONDARY SCHOOLS
Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited.
PROPERTY DETAILS
FOR SALECASCADE APARTMENTS
PROFORMA
Cascade Apartments 10615 - 111 Street, Edmonton TYPE UNITS AVG RENT TOTALBachelor 1 $760 $760One Bedroom 20 $827 $16,540Two Bedroom 12 $934 $11,208TOTAL 33 $28,508 GROSS ANNUAL RENTAL INCOME $342,096 GROSS ANNUAL LAUNDRY INCOME $15 / unit / month $5,940 VACANCY 5.0% ($17,105)OPERATING INCOME $330,931 EXPENSES % OF INCOME TYPE PER UNIT/ PER YEARProperty Taxes: 2016 10.0% Actual $1,007 $33,225 Utilities 16.5% Actual $1,650 $54,450
Caretaking & Cleaning 4.2% Market $420 $13,860
Insurance 2.5% Market $250 $8,250 Management 4.0% Market $401 $13,237 Maintenance & Repairs 7.8% Market $800 $26,400 Advertising 1.0% Market $100 $3,300 Administration 1.0% Market $100 $3,300 Miscellaneous 0.5% Market $50 $1,650 TOTAL (EXP/INC RATIO) 46.8% ($4,778) ($157,672)
NET OPERATING INCOME $173,259
Municipal Address
10615 - 111 Street NWEdmonton, Ab
LegalAddress
Plan: 1320011 Block: 11 Lot: 121A
Units
33 Total(1) Bachelor(20) 1-Bed(12) 2-Bed
Built 1967
Parking Surface
Site Area 22,504.6 Sq. Ft. (0.517 acres)
Zoning RA8Medium Rise Apartment Zone
107 AVENUE
104 AVENUE
109 STR
EET
MACEWAN UNIVERSITY
RETAIL
CASCADE APARTMENTS
FOR SALECASCADE APARTMENTS
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.
www.cbre.ca/edmonton
CONTACT US
FOR SALECASCADE APARTMENTS
BRADLEY GINGERICHSenior Vice President+1 780 917 [email protected]
PAUL CHAPUTSenior Vice President+1 780 229 [email protected]
BRADYN ARTHSenior Sales Associate+1 780 917 [email protected]
CODY NELSONSenior Sales Associate+1 780 229 [email protected]
ELIZABETH COSULICHSales Representative +1 780 [email protected]
CASCADE APARTMENTS
THE OFFERING + The Property is being offered with a LIST PRICE of $4,125,000.00 (reflecting $125,000 per suite)
+ CBRE Limited - has been retained on an exclusive basis to arrange for the sale of the Property. Expressions of interest to purchase will be dealt with as they are received.
