for salercedm.ca/wp-content/uploads/2020/11/fairfield-manor... · 2020. 11. 17. · for sale |...
TRANSCRIPT
• Fairfield Manor is a great 15 unit walkup located in Queen Mary Park, with an excellent mix of
12 two-bedroom suites and 3 one-bedroom suites.
• Walking distance to churches, restaurants and schools including the growing Grant MacEwan
University.
• Priced to sell at less than $100K a door. There is some upside in this building which is well
maintained but not significantly upgraded, leaving you to increase the cap rate and your profit.
15 UNIT APARTMENT | FAIRFIELD MANOR10816 - 112 STREET EDMONTON | ALBERTA
HIGHLIGHTS
FOR SALE
www.rcedm.ca
$1,467,270
Chris Davies, VPMulti-Family & Investment780 905 7562 [email protected]
Luke Gervais, AssociateMulti-Family & Investment403 918 5000 [email protected]
FOR SALE | FAIRFIELD MANOR
RENT ROLL
Unit Type Current Rent Stabilized Rent
101 2 Bed $875 $900
102 2 Bed $875 $900
103 1 Bed $800 $825
104 2 Bed $875 $900
105 2 Bed $875 $900
201 2 Bed $875 $950
202 2 Bed $835 $950
203 1 Bed $800 $850
204 2 Bed $875 $950
205 2 Bed $875 $950
301 2 Bed $875 $950
302 2 Bed $875 $950
303 1 Bed $800 $850
304 2 Bed $875 $950
305 2 Bed $875 $950
Monthly $12,860 $13,725
Annual $154,320 $164,700
DETAILS
Municipal10816 - 112 StreetEdmonton, Alberta
Legal Block 13, Plan 8923377
Neighbourhood Queen Mary Park
Year Built 1953
Zoning RA7 (Low Rise Apartment)
Lot Size ± 15,022 SF
Suite Mix
3 - One Bedroom12 - Two Bedroom
15 - Total Units
FOR SALE | FAIRFIELD MANOR
Annual /Unit/Yr
INCOME
Scheduled Income $154,320 $10,288
Other Income $930 $62
Vacancy (8%) -$12,346 -$823
Total Income $142,904 $9,527
EXPENSES
Taxes $10,215 $681
Management (5%) $7,145 $476
Misc. $3,112 $207
Utilities (Actual) $29,336 $1,956
Caretaker (Proforma) $6,375 $425
R & M (Actual) $18,141 $1,209
Insurance $6,487 $432
Total Expenses $80,813 $5,388
Net Operating Income $62,091 56.55%
FINANCIAL PERFORMANCE
List Price $1,467,270
Mortgage (New 3%, 5 yr, 30 yr am) $1,027,089
Loan to Value 70%
Downpayment $440,181
Net Operating Income $62,091
Mortgage Payment (est) $51,840
Cash Flow $10,525
Cash on Cash Return 2.33%
Mortgage Paydown (Year 1) $22,850
Return on Equity(Exclusive of appreciation)
7.52%
Current CAP Price $/Door
4.23% $1,467,270 $97,818
INCOME & EXPENSES FINANCIAL PERFORMANCE
CURRENT FINANCIALS
INCOME & EXPENSES
Annual /Unit/Yr
INCOME
Scheduled Income $164,700 $10,980
Other Income $930 $62
Vacancy (5%) -$8,235 -$549
Total Income $157,395 $10,493
EXPENSES
Taxes (Est.) $10,215 $681
Management (5%) $7,870 $525
Misc. $1,500 $100
Utilities $21,000 $1,400
Caretaker $6,375 $425
R & M $12,000 $800
Insurance $6,000 $400
Total Expenses $64,960 $4331
Net Operating Income $92,435 41.27%
PROFORMA FINANCIALS
List Price $1,467,270
Mortgage (New 3%, 5 yr, 30 yr am) $1,027,089
Loan to Value 70%
Downpayment $440,181
Net Operating Income $92,435
Mortgage Payment (est) $51,840
Cash Flow $40,596
Cash on Cash Return 9.22%
Mortgage Paydown (Year 1) $22,850
Return on Equity(Exclusive of appreciation)
14.41%
Current CAP Price $/Door
6.30% $1,467,270 $97,818
FOR SALE | FAIRFIELD MANOR
LIST PRICE: $1,467,270
N
The information contained herein was obtained from sources deemed to be reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form a part of any future contract. All measurements need to be independently verified by the Purchaser/Tenant.
Edmonton’s ONLY RE/MAX Commercial Office
#302, 10171 Saskatchewan DriveEdmonton, AB T6E 4R5
780 757 1010
www.rcedm.ca
RE/MAX Commercial Capital | Ritchie MillChris Davies, VPMulti-Family & Investment780 905 [email protected]
Luke Gervais, AssociateMulti-Family & Investment403 918 [email protected]
DEMOGRAPHICS
$
Neighbourhood Population of 7,408 (2019 Census)
Type of Ownerships 22% Owned 78% Rented(2020 MLS)
Average Age Range± 3,503 (0-39 yrs)± 1,297 (40-59 yrs)± 673 (60+ yrs)
Average Household Incomeof $60,000 (2019 Census)