For Sale · Multifamily

1738 & 1740 15 Avenue S, Lethbridge

1738 & 1740 15 Avenue S, Lethbridge, AB T1K0W9

$485,000 total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA9 — High Rise

$ / SF

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Occupancy

92%

Year Built

1957

About this property

FULL DUPLEX IN A PRIME SOUTH LETHBRIDGE LOCATION!Here’s an excellent opportunity to add a full duplex to your investment portfolio in a highly desirable South Lethbridge neighbourhood, conveniently located close to the hospital! Offering two completely separate units plus a double garage, this property provides excellent flexibility and plenty of potential.Each unit features 2+1 bedrooms, a full 4 piece bathroom, its own kitchen, two large living areas and separate laundry, giving both sides a comfortable and functional layout. Whether you’re looking for a strong revenue property or an opportunity where you could eventually live in one unit and rent the other, this property offers options.Outside, mature trees give the property a welcoming feel while the generous yard space, off street parking and double garage add even more value and functionality. Nearby parks and schools make the location especially appealing for tenants and future owners alike.Properties offering two separate living spaces and a double garage in a central Southside location are hard to find.FULL DUPLEX. 2+1 BEDROOMS PER UNIT. 2 BATHROOMS TOTAL. 2 KITCHENS. 4 LIVING AREAS. 2 LAUNDRY AREAS. DOUBLE GARAGE. OFF STREET PARKING. MATURE TREES. PRIME SOUTHSIDE LOCATION.Whether you’re expanding your portfolio or looking for a property with the flexibility to live in one unit and rent the other, this one is worth a look! (id:66811)

Financial sandbox

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Estimate
Purchase price$485K
Down payment30% · $146K
Interest rate6.25%
Amortization25 years
Occupancy92%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$19K

Annual cash flow

$-8K

Cash-on-cash

-5.23%

DSCR

0.72

Going-in cap

3.97%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

126,920

Households

57,247

Median income

$135,000

Median age

39.5

Daytime population

191,989

5-yr growth

4.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 1738 & 1740 15 Avenue S, Lethbridge.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.