Prime Investment Opportunity: Triplex in Westwood – $435,000

Address: 11308 128 St NW, Edmonton
Price: $435,000
Total Living Space: 1,586 sq ft
Lot Size: 50’ x 150’
Garage: Double Detached

Investment Highlights:

1. Three Rental Units for Diversified Income:

• Main Unit:
  • 2 Bedrooms, 1 Bathroom
  • Rental Income: $1,600/month
• 1-Bedroom Basement Suite:
  • 1 Bedroom, 1 Bathroom
  • Rental Income: $800/month
• Bachelor Suite:
  • Studio-style living
  • Rental Income: $700/month

With all three units fully rented, this property generates a total of $3,100 per month in rental income, making it a steady source of cash flow.

2. Ideal for Investors Seeking a High-Yield Opportunity:

• Solid Rental Demand: Westwood is a well-established neighborhood located near major educational institutions, shopping centers, and public transit. This makes it a highly desirable area for renters, especially students, young professionals, and small families.
• Low Vacancy Rates: The property’s proximity to Northern Alberta Institute of Technology (NAIT) and downtown Edmonton ensures a consistent demand for rental units. The three distinct units allow for maximum occupancy and income potential.

3. Well-Maintained and Functional:

This triplex offers solid, low-maintenance construction and an efficient layout that appeals to a wide range of renters. The double detached garage provides secure parking and additional storage, which is highly appealing to tenants, and the large 50′ x 150′ lot provides flexibility for future upgrades or expansions.

4. Neighborhood Highlights:

• Location: Westwood is strategically located close to downtown, NAIT, Kingsway Mall, and Royal Alexandra Hospital. Its easy access to major roadways and public transportation makes it a desirable area for renters who need convenience.
• Community Appeal: With tree-lined streets, parks, and schools nearby, Westwood attracts a mix of students, professionals, and families, ensuring diverse tenant demand.

5. Development Potential:

The property sits on a 50′ x 150′ lot, offering potential for future development or redevelopment. With Edmonton’s push for densification and the growing demand for housing, there could be opportunities to explore additional units or redevelopment, subject to city approvals.

Financial Overview:

• Total Monthly Rental Income: $3,100
• Annual Gross Income: $37,200
• Potential Upside: Investors can explore raising rents or making improvements to increase cash flow and future value.

Conclusion:

This triplex offers an excellent investment opportunity for those seeking steady cash flow, minimal vacancy, and a desirable location in Edmonton’s core. With three separate income streams and strong tenant demand, it’s perfect for investors looking to generate reliable returns with potential for long-term appreciation. Whether you’re a first-time multi-family investor or looking to expand your portfolio, this property provides a solid foundation for growth.