10101 Saskatchewan Dr NW
Edmonton, AB T6E 4R6
Kennedy Towers · Multifamily Property For Sale · 100 Units

Kennedy Towers presents a rare opportunity to acquire a 100-unit concrete high-rise apartment building in one of Edmonton’s most coveted rental corridors. Situated on Saskatchewan Drive in the heart of Strathcona, the property offers sweeping views of the downtown skyline and direct access to the North Saskatchewan River Valley—North America’s largest urban park system. Built in 1964, the 16-storey tower comprises a diverse suite mix ranging from bachelor to four-bedroom penthouse units, many of which feature balconies and large windows overlooking the river valley. Select units have already undergone window and balcony upgrades, and the building includes two office/storage spaces on the main floor.
The site spans over 35,000 SF and offers 116 surface parking stalls, exceeding a 1:1 parking ratio—an uncommon advantage in this high-demand area. With zoning for large-scale residential use (RL h65), the asset is well-positioned for long-term rental growth and operational flexibility.
Strathcona is one of Edmonton’s most desirable rental neighborhoods, known for its walkability, cultural vibrancy, and proximity to the University of Alberta. The area is projected to grow by 12.3% over the next five years, driven by university expansion and strong migration trends. Kennedy Towers is currently underperforming relative to market rents, offering substantial upside through in-suite renovations, common area improvements, and ancillary revenue strategies. With Edmonton’s multifamily market seeing record transaction volumes and rent growth, this asset offers compelling yield and long-term capital appreciation potential.