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$650,000

Est. payment - /mo

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2,240 SqFt

Active

42 Onaway AVE Red Deer, AB T4P 2S5

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Redline | Real Broker

[email protected] +1(403) 561-2190

UPDATED:

02/20/2025 09:00 PM

Key Details

Property Type Multi-Family

Sub Type 4 plex

Listing Status Active

Purchase Type For Sale

Square Footage 2,240 sqft

Price per Sqft $290

Subdivision Oriole Park

MLS® Listing ID A2190447

Originating Board Calgary

Year Built 1980

Annual Tax Amount $5,579

Tax Year 2024

Property Sub-Type 4 plex

Property Description

7.7% CAP Rate in Oriole Park! $73,920/YR IN GROSS RENTS! You won't find a better performing 4-plex available in Red Deer! 42 Onaway Ave offers reliable income and growth potential in Red Deer's thriving rental market. All units are 3 bedroom 1.5 bath. The units are laid out nicely, each one a bi-level that features 1 bedroom, a 2-piece bath, kitchen, living, and dining areas upstairs, plus 2 bedrooms, a 4-piece bath, and laundry downstairs. All units include private balconies off the dining area. Recent updates include a heavily renovated Unit C (see photos) and a 2016 asphalt shingle roof with lots of life remaining. Balconies have been well maintained, and each unit is individually metered for electricity, keeping owner costs low. The property has a private rear parking area with powered stalls, plus additional street parking. Ideally located across from a park and minutes from schools, shopping, downtown, and major highways, this turn-key property benefits from consistent tenancy and Red Deer's growing appeal for its strong job market and affordability. Don't miss this opportunity to invest in a high-performing, hassle-free asset!

Location

State AB

County Red Deer

Zoning R2

Interior

Heating Forced Air, Natural Gas

Inclusions Fridge x 4, Electric Stove x 4, Hood Fan x 4, Washer x 4, Dryer x 4.

Appliance Dryer, Electric Stove, Range Hood, Refrigerator, Washer

Laundry In Unit

Exterior

Parking Features Off Street, Parking Pad, Plug-In

Garage Description Off Street, Parking Pad, Plug-In

Roof Type Asphalt Shingle

Lot Frontage 63.19

Total Parking Spaces 4

Building

Foundation Poured Concrete

Others

Restrictions None Known

Tax ID 91734642

Ownership Private,REALTOR®/Seller; Realtor Has Interest

Listed by Real Broker

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Redline | Real Broker

Agent

+1(403) 561-2190