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LOADING

709 Hammond Drive S Fox Creek, Alberta T0H 1P0

2426 sqft
Bi-Level None Central Heating

$399,900

A well-maintained 4-plex is up for sale! This 4-plex is fully occupied with longer term leases!The building contains 4 - 3 BR , 1 1/2 BA suites with a full kitchen, dining area, living room, 1/2 bath and a storage room on the main floor, along with 3 BR, a full bathroom, mechanical room and laundry area downstairs. 3 suites are unfurnished and one has just been furnished with all new furniture! There are patio doors leading from the main floor living space onto the outdoor deck. The suites are designed in a bi-level format, with the living space upstairs on the main floor and the bedrooms downstairs on the lower level. Two units face the street and the other two face the back yard. Paved parking stalls are located to the front of the building, coming directly off the street. The building was built in 1980 and is constructed of wood framing and a PWF foundation. It is a wood-sided building with asphalt shingles on the roof. Each of the units has a gas furnace and hot water heater. RENOVATIONS: All 4 suites have had major renovations as is obvious on viewing the suites. These renos include new paint, new vinyl plank flooring, bathroom renos, 2 new high-energy efficiency furnaces, 3 new hot water heaters and all 4 new decks. One suite has just been furnished. It has very nice furnishings throughout. The seller has also installed all new front and rear entrance steps in early July 2022 - well over $10,000 in improvements since May of this year. The tenants pay their own heat and power while the owner pays the monthly water and sewer costs. CAP rate on this investment property is 8.34% and the revenue makes a good income for an investor.Total Expenses$19,666Net Operating Income $ 41,299 Capitalization Rate 8.34%Property Value $495,000 ($123,750 / door) Cash required with new 80% CMHC financing - $99,000 Annual Cash Flow after Debt Servicing $ 14,498Annual Cash on Cash Return – Year 1: $16,219 / $99,000 = 16.4% Total Return in year 1 – ($16,219 + $9,414 mortgage paydown) / $99,000 = $25.9% (id:49443)

Property Details

MLS® Number A1224429
Property Type Multi-family
Parking Space Total 4
Plan 7620609

Building

Appliances Washer, Refrigerator, Range, Dryer
Architectural Style Bi-level
Basement Development Finished
Basement Type Full (finished)
Constructed Date 1980
Construction Material Wood Frame
Cooling Type None
Fire Protection Smoke Detectors
Flooring Type Laminate, Linoleum
Foundation Type See Remarks
Heating Fuel Natural Gas
Heating Type Central Heating
Size Interior 2426 Sqft
Total Finished Area 2426 Sqft
Type Multi-family
Utility Power Single Phase
Utility Water Well, Municipal Water

Parking

Concrete
Other

Land

Acreage No
Sewer Municipal Sewage System
Size Total Text Unknown
Zoning Description R3

Utilities

Natural Gas Available
Water At Lot Line

https://www.realtor.ca/real-estate/24499792/709-hammond-drive-s-fox-creek