38 Wildrose Street, Lacombe


10 Beds
4 Baths
1,900 Sqft
0 Acres
0 Garages

How to make money in Real Estate. Find a great property, in excellent condition, with a solid return (5% CAP Rate) and buy it! Hold on to it and eventually you can run for US President.... This 4 plex is the first part of the equation. Steel framed building originally built by the Canadian Armed forces, moved to this location in the early 1960's. It's been totally renovated, is rock solid and impeccable. 2 - 3 Bedroom units and 2 - 2 Bedroom units, all with newer kitchens and baths, flooring, paint, siding, shingles, basement windows and more. Central hot water heating with a modern boiler, 2 new hot water tanks, septic field installed in 2011 and water well drilled in 2017 (370 feet deep bailed at 50 igpm). Located just south of Burman University. Owner currently occupies unit 3. RMS dimensions are as follows... Unit 1: 3 bedroom Upper East side is 1100 ft2. Unit 2: 2 bedroom Upper West side is 800 ft2. Unit 3: 3 bedroom Lower East side is 871 ft2. Unit 4: 2 bedroom Lower West side is 679 ft2. Utility room (lower level) is 286 ft2. Shop/Office building is 710 ft2. Shed is 10x20 and powered.
There is gravel parking available for at least 8 units. The Shop/Office is a 3 season building, heated all year. It is a unique but awesome place to have a hobby, run a small enterprise or just get away from it all. Current rent is Unit 1: $1150, Unit 2: $1050, Unit 4: $950. Main floor has 11 foot ceilings. This is a strong business opportunity combined with a meticulously maintained, immaculate place to live or rent. Owner occupiers may be able to get in with 5% down on the first $500K and 10% down on balance...and use up to 100% of rental income to qualify. Return on investment is staggering!

Essential Information
MLS® #CA0158157
Full Baths4
Square Footage1,900
Year Built1960
Community Information
Address38 Wildrose Street
AreaLC Rosedale Valley
CountyLacombe County
Postal CodeT4L 1Y4
ParkingParking Pad

Electricity, High Speed Internet, Natural Gas, Cable/Satellite TV, Septic System, Street Lighting, Telephone, Underground Wiring

Interior FeaturesLaundry - In-Suite, Workshop

Dishwasher - Built-In, Microwave - Built-in, Refrigerator - 1, Stove


Baseboard heaters, Boiler, Hot Water

RoofShingle - Asphalt
FoundationConcrete, Fully Finished
Lot Description

Flat Site, Landscaped, Nearby - Park/Reserve


Exterior Walls 2'x6', Frame - Steel, Shingles, Siding, Vinyl

Additional Information
HOA Fees0.00
Listing Details
OfficeCentury 21 Advantage

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