northlands
Senior Member
Wicked walkup infill across from the U of A in Windsor Park right along 116th. Looks like an 6 plex I think.
11603 89 Ave NW
11603 89 Ave NW
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- Thread starter Daveography
- Start date
northlands
Senior Member
Another 4plex (plus secondary suite) infill in Glenora, just a half block from Stony Plain Road.
13802 103 Ave NW
13802 103 Ave NW
TAS
Senior Member
Barnaby
Active Member
An 8-plex going up in Glenora is funny to me. It will invite so many poors that are willing to spend $2,000+ in rent!
thommyjo
Senior Member
2000? At over 750k per unit at the above price, these need to be renting at 3k!
Barnaby
Active Member
This building has 8 total units. The estimated average rent per unit comes out to just over $2,000 a month. The basement suites will definitely be in the $1,200-1,500 range. Obviously main floor units will be closer to $2,500-2,800.
edm13
New Member
Yeah you need $4k per unit for this to even start to maybe make sense
Barnaby
Active Member
15.9% gross return if the buyer pays cash and estimated rent per unit of $2,083 is hit.
edm13
New Member
My bad, I read your last one wrong. I meant 4k per unit as in up and down, so $16k for the building. I still don’t see your math though. My quick thoughts were 4,000 would be 48,000 for the year. Knock off 20% as a quick proxy for property tax, insurance, maintenance, vacancy. Then divide that by 775k, and you get a cap rate of about 5%, which is not even that great. Did I miss something?
JNO1
Active Member
fromyeg
Active Member
Priority Growth Area Rezoning | City of Edmonton
Priority Growth Area Rezoning will target sites within priority nodes and corridors to incentivize demand and investment in these important areas.
I saw a sign advertising this today.
The first I’d heard of Priority Growth Area Rezoning.
Three areas of focus: University/Garneau, Wîhkwêntôwin/124th and Stony Plain Road.
Essentially the City proactively rezoning properties to encourage development.
There is opportunity for engagement if anyone is interested!
BrettB
Active Member
Lots of interesting Ifill coming to public hearing in a little more than a week: https://pub-edmonton.escribemeetings.com/Meeting.aspx?Id=d1ae74c9-8f12-41dc-b508-8c869b1a24ca
Of note
1. wider range of uses for the Brighton Block (including, shudder, self storage)
2. 109St/Jasper upzoning
3. New development 109 St/70 Ave
4. New 6-storey development near Bonnie Doon stop
Of note
1. wider range of uses for the Brighton Block (including, shudder, self storage)
2. 109St/Jasper upzoning
3. New development 109 St/70 Ave
4. New 6-storey development near Bonnie Doon stop
Barnaby
Active Member
Brighton Block would have made for great loft style houses. Kinda a shame what was done with an otherwise amazing restoration.
thommyjo
Senior Member
An a few 3 story walkups in Wihkwentowin rezoned for 8 stories! That’d be great to see.
The 109st/jasper one would be so nice to see done really well. Would help one of our main entrances/exits feel more finished.
fromyeg
Active Member
6 storey potentially going up in King Edward near Bonnie Doon Mall.
Valley Line encouraging some TOD.
