I have listed a new property at 5724 47 STREET in Lloydminster.
Excellent investment opportunity! Live on one level and rent the other! For the right buyers, especially first-time buyers, the seller will assist with the down payment (short term, reimbursable in 2 years / Canada prime rate minus 0.25). The title will be on the buyer’s name, but the seller reserves the right to have a lien on the property until the down payment will be fully paid. The monthly rental income is $1,700. There is a guaranteed 5.2% CAP rate along with long term months lease agreements, great tenants, and steady income. The residents are responsible for TV/cable, telephone, and utilities. Over the years the property (2 stand alone units) provided an extremely healthy rental income. The property is unique in layout both on the main floor and lower level. In Sep 2019 the property was fully renovated and upgraded, which features two self-contained stand-alone units on the main floor 3 bedrooms unit with large open concept living room, full kitchen with island and dinning area, 1 full bathroom w/bathtub and shower, one ½ bathroom master bedroom, and laundry room on the main floor, and 2 bedrooms unit with a large open concept living room, kitchen and dining area, 1 full bathroom w/bathtub and shower, and laundry room. Given all circumstances of the unique layout and renovation, one of the units could be turned into a rental income unit or could be turned into living space for a larger family with small kids and teenagers requiring their own private space. Both the 3 bedroom unit and 2 bedroom unit have 7 appliances – washer, dryer, microwave, dishwasher, fridge, hood fan, stove/range. The property features a large, fenced backyard with a large deck featuring a BBQ gas line, and separate gates front yard and back yard along with a new 24ft by 24ft, 9ft ceiling insulated double garage, and RV parking (front) and 2 additional parking stall side by side back of the house. In addition, this property has been renovated (including basement re-developed, new soundproof insulation – ceiling, open concept), new roof, new giant water tank have been installed, and fresh painting