4840 50 Avenue, Vermilion, Alberta

$599,000

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About 4840 50 Avenue

Attention real estate investors! Don't miss out on this lucrative investment opportunity! The IMPERIAL BLOCK, a historic revenue-generating building located in downtown Vermilion, is available for sale. Built in 1912 by British capitalists, this iconic property was originally designed as a luxury office and apartment block. Over the years, it has served as a residence for figures like Mayor J.W.G. Morrison and provided accommodations for students from the Vermilion School of Agriculture. Today it continues to be a popular residence for students of Vermilion's Lakeland College and local industry such as oilfield and agriculture. Sitting on a spacious 60’ x 120’ lot, this three-story building is constructed of durable local brick from the Vermilion Brick Factory. It features a single commercial tenant on the main level, along with eight residential units above. The unit breakdown includes a variety of layouts, from spacious two-bedroom units to oversized one-bedroom and studio apartments. Additionally, the property offers the convenience of on-site coin-operated laundry facilities. With an impressive gross revenue of approximately $100,000 annually, the Imperial Block boasts a remarkable CAP rate of over 9%. This makes it a highly desirable investment opportunity for savvy real estate investors. Contact us today to discover how you can maximize your returns with this exceptional property!

Facts & Features of 4840 50 Avenue

MLS® # A2114549
Price $599,000
Bathrooms 0.00
Acres 0.00
Year Built 1912
Type Commercial
Sub-Type Mixed Use
Status Active

Community Information

Address 4840 50 Avenue
Subdivision Vermilion
City <a href="/idx/?refine=true&feed=pwmls&search_location=Vermilion"><u>Vermilion</u></a>
County Vermilion River, County of
Province Alberta
Postal Code <a href="/idx/?refine=true&feed=pwmls&search_location=T9X1T6"><u>T9X1T6</u></a>

Amenities of 4840 50 Avenue

Is Waterfront No
Has Pool No

Interior

Heating Boiler, Natural Gas
Fireplace No
Has Basement No

Additional Information

Date Listed March 13th, 2024
Days on Market 97
Zoning CB
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeRE/MAX PRAIRIE REALTY

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