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10121 155 St NW - 29 Units 4-story apartment Edmonton 29 Unit Apartment Building Offered at $5,992,791 CAD at a 4.30% Cap Rate Edmonton, AB T5P 2L6
Investment Highlights
- Walk to the future train station
- Elevator and rooftop patio
- West Edmonton
Executive Summary
Buyer to "Assume Mortgage" on completion. The project offers two significant advantages:
1. Greater financing certainty: The CMHC-insured construction mortgage has already been approved and funded. The buyer would only need to assume/takeover the existing mortgage upon "project completion". No concern about financing uncertainty or concern on construction.
2. Approximately $135,000 in CMHC premium savings: The existing mortgage was approved with a 2.9% CMHC premium. Based on the current 5.6% premium rate, the project benefits from substantial savings compared with arranging the same financing today.
Project and financing details:
• Total approved construction mortgage: $5,130,380
• Existing CMHC premium: 2.9%, or $139,580
• Estimated CMHC premium savings: approximately $135,000
• Required cash to close est.: $859,620.
• Current mortgage lender: CMLS
• Estimated completion: May 2027
• Total number of units: 29
• Building configuration: 4 storeys plus basement
• Elevator included
• Wheelchair-accessible design
• Over 1,300 sqft rooftop patio
• Office room
• The rental pro forma uses projected rents for the bachelor and one-bedroom units that are below the Edmonton average for comparable properties, providing potential rental-growth upside
• Floor plans and appraisal report are attached for review
1. Greater financing certainty: The CMHC-insured construction mortgage has already been approved and funded. The buyer would only need to assume/takeover the existing mortgage upon "project completion". No concern about financing uncertainty or concern on construction.
2. Approximately $135,000 in CMHC premium savings: The existing mortgage was approved with a 2.9% CMHC premium. Based on the current 5.6% premium rate, the project benefits from substantial savings compared with arranging the same financing today.
Project and financing details:
• Total approved construction mortgage: $5,130,380
• Existing CMHC premium: 2.9%, or $139,580
• Estimated CMHC premium savings: approximately $135,000
• Required cash to close est.: $859,620.
• Current mortgage lender: CMLS
• Estimated completion: May 2027
• Total number of units: 29
• Building configuration: 4 storeys plus basement
• Elevator included
• Wheelchair-accessible design
• Over 1,300 sqft rooftop patio
• Office room
• The rental pro forma uses projected rents for the bachelor and one-bedroom units that are below the Edmonton average for comparable properties, providing potential rental-growth upside
• Floor plans and appraisal report are attached for review
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $900.00 CAD | - |
| 1+1 | 18 | $1,050 CAD | - |
| 2+2 | 9 | $1,750 CAD | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
70/100
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Presented by
Maxwell Polaris
10121 155 St NW - 29 Units 4-story apartment Edmonton
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