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$650,000
Est. payment /mo
2,240 SqFt
UPDATED:
02/20/2025 09:00 PM
Key Details
Property Type Multi-Family
Sub Type 4 plex
Listing Status Active
Purchase Type For Sale
Square Footage 2,240 sqft
Price per Sqft $290
Subdivision Oriole Park
MLS® Listing ID A2190447
Year Built 1980
Property Sub-Type 4 plex
Property Description
7.7% CAP Rate in Oriole Park! $73,920/YR IN GROSS RENTS! You won't find a better performing 4-plex available in Red Deer! 42 Onaway Ave offers reliable income and growth potential in Red Deer's thriving rental market. All units are 3 bedroom 1.5 bath. The units are laid out nicely, each one a bi-level that features 1 bedroom, a 2-piece bath, kitchen, living, and dining areas upstairs, plus 2 bedrooms, a 4-piece bath, and laundry downstairs. All units include private balconies off the dining area. Recent updates include a heavily renovated Unit C (see photos) and a 2016 asphalt shingle roof with lots of life remaining. Balconies have been well maintained, and each unit is individually metered for electricity, keeping owner costs low. The property has a private rear parking area with powered stalls, plus additional street parking. Ideally located across from a park and minutes from schools, shopping, downtown, and major highways, this turn-key property benefits from consistent tenancy and Red Deer's growing appeal for its strong job market and affordability. Don't miss this opportunity to invest in a high-performing, hassle-free asset!
Location
Province AB
County Red Deer
Zoning R2
Interior
Heating Forced Air, Natural Gas
Inclusions Fridge x 4, Electric Stove x 4, Hood Fan x 4, Washer x 4, Dryer x 4.
Appliance Dryer, Electric Stove, Range Hood, Refrigerator, Washer
Laundry In Unit
Exterior
Parking Features Off Street, Parking Pad, Plug-In
Roof Type Asphalt Shingle
Lot Frontage 63.19
Total Parking Spaces 4
Building
Dwelling Type Four Plex
Foundation Poured Concrete
Others
Restrictions None Known
Tax ID 91734642
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Listed by Real Broker