Mid-town location yet on quiet street allows this property to satisfy most rental market sectors; evidenced by continuous full-time occupancy. Necessary fundamentals all present: close by shopping, bus routes, popular restaurants and proximity to U of A. Front unit is a 3x2; rear unit is a 2x1. Large bedrooms and open floor plan make these rentals stand out from typical of the neighborhood. Also features fenced in yard and lots of storage. Relationship between Seller and Tenant has resulted in long term lease at less than market rental rate- however this tenant is now on a month to month basis. Comparable unit rents in immediate area indicate Buyer can expect 8.5% cap rate- 11% ROI using reasonable projected rents of $21,480 per year. Existing termite warranty is transferrable.
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