For Sale

Property Details

  • Property type: Multifamily - Infill 8-Plex
  • Units: 8
  • Neighbourhood: Spruce Avenue
  • Site Size: 7,985 SF
  • Zoning: Small Scale Residential
  • Parking: 7 Outdoor Stalls
  • Year Built: Completion in Spring 2027
  • List Price: $2,300,000 ($287,500/unit)

Location Overview

The Property is located in the central Edmonton neighbourhood of Spruce Avenue, providing excellent access to a wide range of amenities and major transportation corridors. Spruce Avenue Park is located directly across the street from both lots and offers expansive green space, sports fields, playground facilities, and an active community league. The park is also slated to become the future site of a newly constructed public school with a planned capacity for 605 students.

The Property benefits from close proximity to major post secondary institutions, healthcare employment hubs, and regional retail destinations. NAIT is within walking distance, while MacEwan University is an 8-minute drive, collectively enrolling over 60,000 students annually.

The Royal Alexandra Hospital and Glenrose Rehabilitation Centre are located just south of the Property and collectively employ over 15,000 healthcare professionals. Kingsway Mall is approximately 350 metres away and provides more than 977,000 square feet of retail space anchored by national tenants such as Walmart and HomeSense, alongside a broad mix of supporting retailers and services.

Investment Highlights

High Leverage Financing

The Property offers the opportunity to secure CMHC MLI Select financing of up to 95% LTV with a 50 year amortization, resulting in a downpayment of $115,000.

Purchaser Controlled Lease-Up

Subject to a firm agreement, the Vendor will permit the purchaser to control lease-up prior to possession to support financing and rental strategy. By taking on the lease up directly, the purchaser can ensure CMHC COI conditions are met prior to possession.
Top Development Quality

Developed by Streetside, a Qualico company, the Property offers new purpose-built rental product backed by experienced execution, durable construction, and reduced near-term capital requirements.

Superior Tenant Appeal

The Property offers tenants the closest thing to single-family, independent living. Private entrances, two-storey layouts, in-suite laundry, separate metering, unfinished basements, and proximity to major amenities/employment nodes support lease-up, tenant retention, and stable long-term rental income.

Marketing Materials

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