5415 54 ST Ponoka, AB T4J 1M9

Original owner has decided its time to retire after 47 years! This building has been meticulously maintained and offers an attainable 7% CAP rate. Rents have been well below market for several years, but will be brought closer to market on July 1/25. 18 Suites, consisting of 17 two bedroom and 1 one bedroom unit have historically had a very low vacancy rate. Excellent location in a town of over 7000 people. Ponoka has a bustling economy with 3 hospitals, agriculture and energy as well as the Ponoka Stampede. The owner has recently installed two new boilers (hot water heat), flooring in the common areas, fibreglass shingles on roof. Acrylic Stucco, windows, dura deck and deck rails have all been updated in the past few years. All units have had updating over time. There are 18 electrified parking stalls in the paved parking lot on the east side of the building. Plugins for parking are controlled inside each apartment. There are several very long term tenants in the building.