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York Manor

Address: 8516 99 St NW, Edmonton, AB T6E 3T6, Canada

Canada + Apartment Buildings

Created date: November 14, 2024

Date last updated: November 14, 2024

Significant potential for immediate rental upside given the property's strong historical occupancy and location.
Situated within 500m from Whyte Avenue providing immediate access to restaurants, coffee shops, boutique retail and entertainment.
The site is zoned RM h23 offering great future development potential.
The Property has been self-managed for over 10-years and meticulously maintained and operated.

Property Description

Situated in an AAA location, the Property is located along 99th Street in the south-central community of Strathcona. Located 450 meters from Whyte Avenue, the shopping district provides over 1.2 million square feet of retail space and is home to a diverse array of shops, restaurants, cafes, and nightlife venues, making it a popular destination for both locals and tourists. Located 2 kilometers from the University of Alberta North Campus (the “U of A”), the Property is within walking distance to the U of A and University of Alberta Hospital. The U of A has recently announces its 2023 Strategic Plan which charts a course of action to expand enrollment from 44,000 students to 60,000 within the next decade. The U of A’s aggressive growth plan and financial restrictions have increased the dependency on third-party development to meet the housing needs of students. The economic issues of inflation coupled with exorbitant migration have instigated a push for affordable and centralized housing. With over 100,000 people having migrated to Alberta since 2022, Edmonton’s affordable, central communities are the landing grounds for a majority of these new migrants. The Property’s strategic location provides limitless potential for rental growth. As of January 2024, Strathcona’s average vacancy rate stands at 1.9%, highlighting the area’s resilience and consistent appeal to renters. This stability ensures higher yields for property owners and investors.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$4,000,000
No. of Units:	26
Lot Size:	4,180.60 Sq ft
Opportunity Zone:	No
Price per unit:	$153,846
Property Website	Click Here