IL 1 – Light industrial district (grandfathered as residential)
Lot Size:
275’ x 176’ or 1.11 A/C plus potential 20ft x 275ft alley to be purchased.
Building Description:
Constructed in 1950
2 ½ story apartment block with a foot print of 8352 sq ft
57 bachelor suites
6 – 1BR suites
Wood frame exterior. Built up tar and gravel roof
Boiler heat
1BR suites have washrooms, refrigerators and kitchen sink and are 392 sq ft.
Each bachelor suite contains a kitchen sink and are 200 sq ft. Each floor has 2 common washrooms shared by the bachelor suites
Building was constructed originally to be used as Air Force Barracks
Existing in house management will remain if requested
Phase I environmental report is available and is part of the sale price
Appraised in October 2007 at $2,200,000. Report is part of sale price
Current owners have completed the following during the last 10 years
- New windows $70,000
-
Electrical 600 amp service $85,000
- 3 Phaze to building $10,000
- New siding (Vinyl) $16,000
- Carpeting $20,000
- Parking electrified to 38 suites $18,000
Rooms are all furnished
2 washers and 2 dryers owned
Owner is obtaining prices and hopes to start painting common areas prior to sale
Current owner has applied to City of Saskatoon to purchase the 20’ x 275’ alley at the rear. If it occurs, it will be included in the sale at current asking price
Property has future potential as part of the light industrial district zoning area
For further financial data contact Del Peters Realty at 306-222-8207
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.