10222 105 Street & 10505 103 Street
- 30-suite apartment complex in Grande Prairie
- Two 15-suite wood-frame apartment buildings
- 20 one-bedroom and 10 two-bedroom suites
- Approximately 21,850 square feet of rentable area
- Rental upside through turnover, renewals and lease-up of vacancy
- CMHC financing potential, subject to lender confirmation of economic rents, taxes and insurance
Property Description
Ridgeview Manor East & West Ridgeview Manor East & West is a 30-suite, two-building apartment investment in Grande Prairie, Alberta. The property comprises 20 one-bedroom and 10 two-bedroom suites across approximately 21,850 square feet of rentable area. The asset offers a practical value-add opportunity supported by clear rental upside. In-place rents are below recent leasing activity in several suites, while the current rent roll provides a meaningful path to stabilized income through ordinary turnover and renewals. One-bedroom suites are underwritten at $1,250 per month and two-bedroom suites at $1,375 per month, with recent leasing demonstrating support for these levels. The property’s scale, suite mix and stabilized operating profile make it well suited to investors seeking durable rental housing in Grande Prairie. With two 15-suite buildings, a predominantly one-bedroom configuration and a straightforward operating model, Ridgeview Manor offers an accessible acquisition with both near-term income growth and long-term financing potential.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,600,000 |
| No. of Units: | 30 |
| Year Built: | 1975 |
| Lot Size: | 0.09 Acres |
| Opportunity Zone: | No |
| Price per unit: | $120,000 |
| Property Website | Click Here |
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