101-215, 10118 100 Avenue, Peace River, Alberta T8S 1R3

Now available is a mixed use building with 26 titled units , 4 commercial spaces and 29 underground titled parking stalls all owned and controlled by one entity. There are 16 - 1 bed units and 10 2 - bed units with 4 of the 2 bed units furnished. There are 4 commercial spaces on the main floor with 2 currently leased to professional corporations, one an engineering firm the other a medical clinic, with a total rent of $3790 per month between the two commercial tenants - the remaining spaces are 1600 and 1900 sq ft approx and the commercial rents are all inclusive rents. The building is self managed by the owner and they are very particular in regards to tenants and currently have 3 vacant residential units that will be filled once a suitable tenant is found. This property is located in the down town area of Peace River and is within walking distance to all the amenities needed but the secure and heated underground parking is available for tenants as well if desired - this is one of the few buildings in this municipality with secure underground parking. There is revenue from parking, laundry, commercial rents and residential rents with a very good return. There is an upside to increase revenue with additional income from the 3 units and the 3500 sq ft of commercial space - potentially a 20%+ increase to the yearly revenue. In addition there is a small lot that supplies overflow parking off street for about 8-10 vehicles - great for visitors or additional vehicles (id:27476)

The ownership type of this property is Freehold, and it offers a total of 37 parking spaces. It is a mixed-use building with 26 titled units, including 16 one-bedroom units and 10 two-bedroom units, with 4 of the two-bedroom units furnished. Additionally, there are 4 commercial spaces, 2 of which are currently leased to professional corporations, generating a total monthly rent of $3790. The remaining commercial spaces are approximately 1600 and 1900 square feet, with all-inclusive rents. The building is self-managed by the owner, who is selective about tenants and currently has 3 vacant residential units that will be filled once suitable tenants are found.

Situated in the downtown area of Peace River, this property is within walking distance to all necessary amenities. It also offers secure and heated underground parking for tenants, making it one of the few buildings in the municipality with this feature. The property generates revenue from parking, laundry, commercial rents, and residential rents, providing a good return. There is potential to increase revenue by leasing the 3 vacant units and the 3500 square feet of commercial space, potentially resulting in a 20%+ increase in yearly revenue. Additionally, there is a small lot that provides overflow parking off-street for approximately 8-10 vehicles, suitable for visitors or additional vehicles.

This property is currently for sale and is located at 101-215, 10118 100 Avenue in the city of Peace River, Alberta, with a postal code of T8S1R3. It is situated in the Downtown community and has an attached building construction style with a concrete exterior finish. The heating fuel used is natural gas, and the property features forced air, hot water, and radiant heat. It spans 3 stories and is classified as an apartment.