1001 13 St Cold Lake, Alberta T9M 1J2

$2,200,000

Introducing Northview Apartments, a prime investment opportunity nestled in the heart of Cold Lake, Alberta. This well-maintained 23-unit apartment complex offers a diverse suite mix catering to various tenant needs, including bachelor, one, two, and three-bedroom units. Built in 1981 on a spacious lot spanning 32,100 SF, the property boasts a favourable zoning designation of R4, ensuring flexibility for future development or expansion. With an attractive list price of under $100,000 per door, Northview Apartments presents investors with the potential to achieve a robust CAP rate exceeding 7.5%. Cold Lake boasts a strong economy driven by thriving industries such as oil and gas and the presence of Canadian Forces Base Cold Lake further solidifies rental demand, offering investors a reliable stream of income. With its affordable property prices compared to larger urban centers, Northview Apartments presents an enticing investment opportunity. (id:36938)

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https://www.realtor.ca/real-estate/27033308/1001-13-st-cold-lake-cold-lake-north