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106 Jespersen Ave 5 Unit Apartment Building $990,506 USD ($198,101 USD/Unit) Spruce Grove, AB T7X 2H7
Executive Summary
Discover this exceptional five-unit multifamily property located on a quiet cul-de-sac in one of Spruce Grove’s most desirable and fast-growing areas. Built in 2020, this newer building offers modern construction, low-maintenance design, and a strong foundation for long-term rental growth.
The unit mix includes three spacious two-bedroom suites, one one-bedroom unit, and one three-bedroom unit—perfectly positioned to attract a diverse range of tenants. Strong rents are currently in place for the units, with additional upside potential as market rents continue to rise in this thriving community.
Each unit is submetered for utilities, and includes in-suite laundry.
All five units are fully rented to long-term, reliable tenants, providing consistent, hassle-free cash flow. The newer building significantly reduces repair and upkeep costs, making this an ideal turnkey investment for both experienced and first-time multifamily owners.
With Spruce Grove’s population and infrastructure expanding rapidly, demand for quality rental housing is only expected to increase. This property is an excellent opportunity to secure a well-located, income-producing asset that will appreciate while delivering stable, predictable returns.
Don’t miss your chance to own a modern, fully leased five plex in one of Alberta’s most dynamic rental markets.
The unit mix includes three spacious two-bedroom suites, one one-bedroom unit, and one three-bedroom unit—perfectly positioned to attract a diverse range of tenants. Strong rents are currently in place for the units, with additional upside potential as market rents continue to rise in this thriving community.
Each unit is submetered for utilities, and includes in-suite laundry.
All five units are fully rented to long-term, reliable tenants, providing consistent, hassle-free cash flow. The newer building significantly reduces repair and upkeep costs, making this an ideal turnkey investment for both experienced and first-time multifamily owners.
With Spruce Grove’s population and infrastructure expanding rapidly, demand for quality rental housing is only expected to increase. This property is an excellent opportunity to secure a well-located, income-producing asset that will appreciate while delivering stable, predictable returns.
Don’t miss your chance to own a modern, fully leased five plex in one of Alberta’s most dynamic rental markets.
Property Facts
| Price | $990,506 USD | Apartment Style | Low-Rise |
| Price Per Unit | $198,101 USD | Building Class | C |
| Sale Type | Investment | Building Size | 4,570 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2020 |
| Zoning | R2 | ||
| Price | $990,506 USD |
| Price Per Unit | $198,101 USD |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 4,570 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2020 |
| Zoning | R2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 510 |
| 2+2 | 3 | - | 1,020 |
| 3+1 | 1 | - | 1,000 |
1 1
Walk Score®
Very Walkable (72)
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106 Jespersen Ave
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