1423 37 St SW

Attention smart investors, opportunity is knocking! Two 4-plex buildings shoulder by shoulder, priced at $1,150,000 (1423) and $1,148,800(1427); 1427 is listed separately, but preferably selling together with 1423. Right across from the Westbrook Mall in the sought-after community of Rosscarrock, Right on 37 Street SW, a block north of 17th Avenue. Near Rosscarock LRT Station and the newly opened library (walking distance), minutes’ drive to downtown. Close to parks, shopping, and all amenities. Great development potential. The combined dimension of these two lots is 30.42 meters wide and 38.11 meters deep, making up an area of 1159 square meters (12475.3 square feet). This area is big enough to build up to 30 plus condo units, with maximum floor area ratio of 2.5 and the maximum building height of 16 meters above grade. Each building has its own title. Each consists of 4 units: three 2-bedroom apartments and one 1-bedroom apartment. All units have laundry in suite. Currently, all 4 units of each building are rented with combined rent of $4800/month, or with the current market potential of around $6000/month. Tenants would like to stay after ownership changes. (id:22211)