T9K Apartment Buildings for Sale

Apartment Buildings for Sale Within 10 kilometers of T9K

8720 Franklin Ave

Wood Buffalo, AB T9H 3K8

Multifamily for Sale
$12,200,000 CAD
66,000 SF

Air Conditioning
24 Hour Access
Controlled Access
Smoke Detector

Wood Buffalo Multifamily for Sale

Franklin Place presents a compelling turnkey investment opportunity in the heart of Fort McMurray, Alberta’s energy capital. This fully renovated mixed-use property features 44 residential units and 12 commercial bays totaling 16,837 square feet of retail and office space. With 100% occupancy across both components, the asset delivers immediate in-place cash flow and long-term upside potential. The residential suite mix includes bachelor, one-bedroom, and bi-level two-bedroom units, with shared laundry, large balconies, in-suite storage, and 9-foot ceilings. Commercial tenants benefit from air-conditioned bays and high visibility along Franklin Avenue, the city’s primary commercial corridor. The building underwent extensive renovations in 2019, including new mechanicals, modernized interiors, updated roofing, and refreshed common areas, minimizing near-term capital requirements. Strategically located within walking distance of major amenities such as Walmart, Canadian Tire, and Northern Lights Regional Health Centre, the property offers direct access to Highway 63 and public transit routes. The surrounding neighborhood supports a stable tenant base of healthcare professionals, tradespeople, and students. Fort McMurray’s multifamily fundamentals are strong, with average household incomes nearing $189,000, a 4.9% annual population growth, and tightening rental vacancy rates. With residential rents currently averaging 20% below market, investors have a clear path to revenue growth through lease turnover and rate optimization.