Westlock Estates Brochure - RE/MAX Commercial Capital

WESTLOCK ESTATES - 14 UNIT TOWNHOUSE
AND WALK UP INVESTMENT OPPORTUNITY
10536/10544/10540 - 103 Street
Westlock, Alberta
0 r)
0
9
9, oo
9
/d
6
4
1, 13
$ 07,
$1
(
• Westlock Estates consists of 3 buildings: Two 4-plexes and a 6-plex apartment located on 3 side by
side lots. Each of the 4-plexes are 2-storey townhouse style units with 3 bedrooms and 1.5 baths. The
6-plexis a 2.5-storey walkup with 2 units on each level, 2 bedrooms, 1 bath per unit.
• Over $275,000 in improvements including boiler, siding, interiors, parking lot and landscaping.
• Located in a stable, non-oil and gas driven town with low historic vacancy.
• Detailed package with financials is available upon receipt of a signed confidentiality agreement.
For more information please contact:
Chris Davies, B.Sc., MCNE - Associate
RE/MAX Commercial Capital
T 780.757.1010 C 780.905.7562 chris@rcedm.ca
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.
www.rcedm.ca
Building Characteristics
Address:
Legal:
Age:
Building Size:
Lot Size:
Suite Mix:
Taxes: 10536/10544/10540 - 103 Street
Lot 11-13, Block 6A, Plan 4035NY
1971
15,300 sq.ft.
10,175 sq.ft.
Six 2-bedroom, Eight 3-bedroom
$14,937 (2015)
Zoning:
Parking:
Construction: Power:
Heating:
Stabilized Income & Expenses (as of May 2016)
Annual
Per Unit/Year
Income
Scheduled Income
Laundry/Pet Income
Vacancy (4%)
Total Income
$173,100
$1,160
-$6,924
$167,336
$12,364
$83
-$495
$11,953
Expenses
Taxes (2015)
Natural Gas
Power/Water
Resident Manager
Insurance
Management (5%)
Repairs and Maintenance
Garbage/Snow/Landscaping
Total Expense
Total Expense per Unit
Net Income
Cap Rate
$14,937
$5,165
$9,840
$7,560
$5,603
$8,655
$11,200
$2,441
$65,401
$4,672
$101,935
6.80%
$1,067
$369
$703
$540
$400
$618
$800
$174
R-3 (Multi-Family Residential)
Gravel, Energized Surface Stalls
Wood Frame
Separately Metered Suites
Forced air in townhouses and new boiler in 6-plex
Financial Analysis
Total
$1,499,900
$1,124,925
Asking Price
Financing*
(75%LTV, 5/25, at 3.5%)
Cash Required
$374,975
CAP Rate (on acquisition) 6.80%
*Subject to market availability
Gross Income
Net Income
Debt Service
Cash Flow
Cash on Cash Return
Mtg Paydown (Yr 1)
Return on Investment
Annual
$167,336
$101,935
$69,189
$32,746
8.73%
$29,347
16.56%
For more information please contact:
Chris Davies, B.Sc., MCNE - Associate
RE/MAX Commercial Capital
T 780.757.1010 C 780.905.7562 chris@rcedm.ca
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.
www.rcedm.ca
Rent Roll & Suite Mix (as of May 2016)
Suite
1
2
3
4
5
6
7
8
9
Style
Townhouse
Townhouse
Townhouse
Townhouse
Apartment
Apartment
Apartment
Apartment
Apartment
Beds
3
3
3
3
2
2
2
2
2
Rent
$1,200
$1,050
$1,100
$1,100
$975
$900
$950
$950
$950
Suite
10
11
12
13
14
Monthly Total
Annual Total
Style
Apartment
Townhouse
Townhouse
Townhouse
Townhouse
Beds
2
3
3
3
3
Rent
$950
$1,100
$1,000
$1,100
$1,100
$14,425
$173,100
Location
For more information please contact:
Chris Davies, B.Sc., MCNE - Associate
RE/MAX Commercial Capital
T 780.757.1010 C 780.905.7562 chris@rcedm.ca
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.