11,571 ft²Multifamily$1,099,000Sale
11,571 ft²
Multifamily
$1,099,000
Sale
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This 1-storey (3,600 SF) motel/residential apartment, sitting on two separate lots is just a short walk from Lakeshore Drive! It features 5 - one-bedroom suites, 1 - two-bedroom suite and 1 bachelor suite; all currently occupied by tenants. There is a small basement that holds the boiler and hot water tanks. The combined lots equal to 11,571 SF with 7 stalls included on the property for tenant parking. This area is part of the Town of Sylvan Lake’s Sustainable Waterfront Redevelopment Plan. This is an excellent investment opportunity to bring in cash flow now, with the option to develop the land in the future. As these lots are commercially zoned and in the Waterfront Direct Control District, there are many possibilities for redevelopment. The owner is willing to sell the lots separately. Lot 49 (with motel/apartment structure) is listed at $799,000 and Lot 50 is listed at $300,000 if sold individually.
The Space
Asking Price$1,099,000
Available Space11,571 ft²
SourceDirect
The Building
This 1-storey (3,600 SF) motel/residential apartment, sitting on two separate lots is just a short walk from Lakeshore Drive! It features 5 - one-bedroom suites, 1 - two-bedroom suite and 1 bachelor suite; all currently occupied by tenants. There is a small basement that holds the boiler and hot water tanks. The combined lots equal to 11,571 SF with 7 stalls included on the property for tenant parking. This area is part of the Town of Sylvan Lake’s Sustainable Waterfront Redevelopment Plan. This is an excellent investment opportunity to bring in cash flow now, with the option to develop the land in the future. As these lots are commercially zoned and in the Waterfront Direct Control District, there are many possibilities for redevelopment. The owner is willing to sell the lots separately. Lot 49 (with motel/apartment structure) is listed at $799,000 and Lot 50 is listed at $300,000 if sold individually.
Property TypeMultifamily
Floors1
Building Size3,600 ft²
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