38 Wildrose Street, Lacombe

$679,900

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
Price$679,900
Bedrooms10
Bathrooms4.00
Full Baths4
Square Footage1,900
Acres0.00
Year Built1960
TypeResidential
Sub-TypeFourplex
StyleBungalow
StatusActive
Community Information
Address38 Wildrose Street
AreaLC Rosedale Valley
CityLacombe
CountyLacombe County
ProvinceAB
Postal CodeT4L 1Y4
Amenities
ParkingParking Pad
Utilities

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

Interior
Interior FeaturesLaundry - In-Suite, Workshop
Appliances

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

Heating

Baseboard heaters, Boiler, Hot Water

Exterior
RoofShingle - Asphalt
FoundationConcrete, Fully Finished
Lot Description

Flat Site, Landscaped, Nearby - Park/Reserve

Construction

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

Additional Information
ZoningHamlet
HOA Fees0.00
Listing Details
OfficeCentury 21 Advantage
LISTING MAP

Get directions to this property:

Central Alberta Realtors Association LogoThe data included in this display is deemed reliable, but is not guaranteed to be accurate by the Central Alberta REALTORS® Association.

The real estate listing information and related content displayed on this site is provided exclusively for consumers. personal, non-commercial use and, may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate.

Sign up for email updates