2
  • Property Type
  • Apartment, CMHC MLI Multi Family

University Alberta Premium Lot $1.67M to build 35 unit apartment

  • $1,670,000

Description

10-minute “Walk” to the University of Alberta and University Hospital in the community of the “Garneau” area. Price: $1.67M for two combined Lots (total 808 m2, zone RM H23) to build a 3-story, 35-unit apartment with a basement (price includes the design floor plan) or to build up to a 6-story apartment. CMLS assessment CMHC value: $8,376,600. Value per unit: $239,331/per unit at completion.

Price $1.67 highlights:

  • Total combined lot size: 802 m2
  • Zone: RM h23  (up to 6 stories)
  • Walking distance to the University of Alberta and Hospital
  • Includes: floor plan design for a 3-story, 35-unit apartment

 

Total of 35 units:

  • Studio (3)
  • 1 bed/1 bath (13)
  • 1 bed + Den/ 1 bath (9)
  • 2 bed/ 1 bath (1)
  • 2 bed/ 2 bath (9)

Project highlights:

  • Monthly rent: $ 56,800(35 units)
  • Vacancy rate:3%
  • EGI: $661,152
  • Total Expenses: 36.65%
  • Cap rate: 5%
  • NOI: $418,830
  • LTV: 7%
  • CMHC value: $8,376,600

Details

Updated on August 23, 2026 at 12:54 pm
  • Price $1,670,000
  • Land Area 808 m2
  • Property Type Apartment, CMHC MLI Multi Family
  • Property Status For Sale
  • Address: 11008 85 Ave NW Edmonton
  • City: Edmonton
  • State/county: Alberta
  • Area: Garneau
  • Country: Canada

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