1702 – 22nd Street West, Saskatoon, SK
 

FOR SALE
EXCLUSIVE LISTING

Asking Price: $2,350,000
Legal: Lots 1-8 & part of 9, Blk 2 Plan G131
Zoning: RM3
Mortgage: Treat as clear title
Taxes: $18,374 (2008)
Building Description:
  • Constructed in 1972.
  • Concrete construction with brick exterior.
  • All above ground suites have air conditioning.
  • Total of 38 suites: 10 x 1 BR, 22 x 2 BR, 6 x 3 BR.
  • 19 units have washer and dryer and are owned by the building.Common W & D are leased.
  • During the past 5 years the following has spent on R & M:
    • Flooring       $65,279
    • Painting       $30,028
    • Roofing        $18,461
    • Appliances  $14,670
                            $128,438

  • Rents at as at August 1, 2008:
    • 1BR $490/500
    • 2BR $550/585
    • 3BR $695/750

 
 
Pro-Forma
Income:
Rent
267,540
Laundry
4,560
Vacancy
(3,000)
Gross
269,100
 
Expenses:
Advertising
1,000
Caretaker
9,120
Property Tax
18,374
Insurance
3,000
Management
13,450
Utilities
48,000
R+M
20,000
Total Expenses
112,944 (42%)

Net Profit
156,156

Note: Based on information presented by the owner

 

Disclaimer: Del Peters Realty received the above information contained in this proforma from sources deemed reliable but do not guarantee same. Each investor must rely on their own investigation of the salient facts.