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AlderGrove Apartments 103 Alder Dr 36 Unit Apartment Building $3,237,770 USD ($89,938 USD/Unit) 6.73% Cap Rate Hinton, AB T7V 1C6
Executive Summary
36 unit Multi Family residential development consisting of 3 building with 12 units each. Each buildings 2.5 story, wood-frame construction. surface parking power and visor stalls. Stucco siding mix vinyl brick exterior refreshed in 2023. Windows are double glazed replaced Boilers were 2020 each building.
Financial Summary (Actual - 2023) |
Annual (USD) | Annual Per SF (USD) |
|---|---|---|
| Gross Rental Income |
$328,782
|
$9.13
|
| Other Income |
$5,473
|
$0.15
|
| Vacancy Loss |
$6,576
|
$0.18
|
| Effective Gross Income |
$327,679
|
$9.10
|
| Taxes |
$16,330
|
$0.45
|
| Operating Expenses |
$93,331
|
$2.59
|
| Total Expenses |
$109,661
|
$3.05
|
| Net Operating Income |
$218,019
|
$6.06
|
Financial Summary (Actual - 2023)
| Gross Rental Income (USD) | |
|---|---|
| Annual | $328,782 |
| Annual Per SF | $9.13 |
| Other Income (USD) | |
|---|---|
| Annual | $5,473 |
| Annual Per SF | $0.15 |
| Vacancy Loss (USD) | |
|---|---|
| Annual | $6,576 |
| Annual Per SF | $0.18 |
| Effective Gross Income (USD) | |
|---|---|
| Annual | $327,679 |
| Annual Per SF | $9.10 |
| Taxes (USD) | |
|---|---|
| Annual | $16,330 |
| Annual Per SF | $0.45 |
| Operating Expenses (USD) | |
|---|---|
| Annual | $93,331 |
| Annual Per SF | $2.59 |
| Total Expenses (USD) | |
|---|---|
| Annual | $109,661 |
| Annual Per SF | $3.05 |
| Net Operating Income (USD) | |
|---|---|
| Annual | $218,019 |
| Annual Per SF | $6.06 |
Property Facts
| Price | $3,237,770 USD | Building Class | C |
| Price Per Unit | $89,938 USD | Lot Size | 1.17 AC |
| Sale Type | Investment | Building Size | 36,000 SF |
| Cap Rate | 6.73% | Average Occupancy | 97% |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-M2 - Low Rise Apartment | ||
| Price | $3,237,770 USD |
| Price Per Unit | $89,938 USD |
| Sale Type | Investment |
| Cap Rate | 6.73% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.17 AC |
| Building Size | 36,000 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1979 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R-M2 - Low Rise Apartment |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
1 1
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
50/100
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AlderGrove Apartments | 103 Alder Dr
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