4840 50 Avenue Vermilion, Alberta T9X 1T6
$599,000
Attention real estate investors! Don't miss out on this lucrative investment opportunity! The IMPERIAL BLOCK, a historic revenue-generating building located in downtown Vermilion, is available for sale. Built in 1912 by British capitalists, this iconic property was originally designed as a luxury office and apartment block. Over the years, it has served as a residence for figures like Mayor J.W.G. Morrison and provided accommodations for students from the Vermilion School of Agriculture. Today it continues to be a popular residence for students of Vermilion's Lakeland College and local industry such as oilfield and agriculture. Sitting on a spacious 60’ x 120’ lot, this three-story building is constructed of durable local brick from the Vermilion Brick Factory. It features a single commercial tenant on the main level, along with eight residential units above. The unit breakdown includes a variety of layouts, from spacious two-bedroom units to oversized one-bedroom and studio apartments. Additionally, the property offers the convenience of on-site coin-operated laundry facilities.With an impressive gross revenue of approximately $100,000 annually, the Imperial Block boasts a remarkable CAP rate of over 9%. This makes it a highly desirable investment opportunity for savvy real estate investors. Contact us today to discover how you can maximize your returns with this exceptional property! (id:44104)
Property Details
| MLS® Number | A2114549 |
| Property Type | Other |
| Community Name | Vermilion |
| Plan | 6647s |
Building
| Constructed Date | 1912 |
| Heating Fuel | Natural Gas |
| Size Exterior | 7750 Sqft |
| Size Interior | 7750 Sqft |
| Total Finished Area | 7750 Sqft |
| Type | Commercial Mix |
Land
| Acreage | No |
| Size Total Text | Unknown |
| Zoning Description | Cb |
https://www.realtor.ca/real-estate/26617374/4840-50-avenue-vermilion-vermilion
Interested?
Contact us for more information
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
March 13 2024 07:35:40
REALTORS® Association of Lloydminster & District
RE/MAX Prairie Realty