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- LoopNet Team
351 Monteith Dr
High River, AB T0L 0A0
Land For Sale
·
0.69 AC
PROPERTY FACTS
| Property Type | Land | Proposed Use | Multifamily |
| Property Subtype | Residential | Total Lot Size | 0.69 AC |
| Zoning | R-3 | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.69 AC |
| Zoning | R-3 |
DESCRIPTION
The developer has completed a lot of preliminary work on this project. • There is a development permit DP for the whole site completed architectural drawings and have all the sub-trades lined up. Room for quick development and returns, as sales are active with the lowest rental vacancy across Alberta. The developer has built and sold 10 of the 25 units. Hence he has proved that there is a good market for investors and buyers. Potential profit in the range of $600,000.00 - $700,000.00. • There is a high demand for three-bedroom and three bath homes. • Asking rents in the range of $1,800/mo plus utilities for each of the new townhomes. • We have no oil and gas impact in this (MSA) trading region of 50,000 persons as it is mostly transportation, agricultural and manufacturing base. • Some of the risks have been removed from this development. • CMHC 2018 Alberta vacancy report - look at the number of 3 bedroom rentals in High River, there are none, only availability of 4-6 bedrooms
