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Deerwood Place

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Address: 12003 139 Ave NW, Edmonton, AB T5X 3T1, Canada

Canada + Apartment Buildings

Created date: November 14, 2024

Date last updated: November 14, 2024

Three-building complex with an equal mix of walk-up and townhome style suites. Containing one, two and three bedroom options.
Property has been meticulously maintained throughout the years and has experienced minimal vacancy.
Situated adjacent to the Pembina retail node providing residents with 1,258,868 SF of commercial space.
Property includes 48 parking spots and 48 storage units benefitting family residents.

Property Description

The Property is located in the mature neighborhood of Carlisle. Surrounded primarily by single-family homes, it also neighbors the Pembina retail node, which includes Palisades Shopping Centre, North City Centre, and Skyview Centre, totaling 1,258,868 SF of commercial space. The increasing demand for new multifamily products in the Northwest region continues to compress vacancy to a historical market low.Currently, Edmonton’s Northwest submarket has limited rental product. As demand continues to outpace new rental supply, vacancy rates have decreased by 1.0% from Q4 2022 to Q4 2023 in the Castledown region. Demand and value for affordable rental products are expected to increase as new migrants continue to enter Edmonton, putting upward pressure on rent rates. In Q4 2023, the Northwest experienced the largest quarterly rental rate increase at 8% to $1.95 PSF.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$7,500,000
No. of Units:	49
Lot Size:	11,148.40 Sq ft
Opportunity Zone:	No
Price per unit:	$153,061
Property Website	Click Here