11 Rental Properties For Sale in Calgary and Edmonton

  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    We are now very fortunate to be ready to do what Don Campbell has recently described at REIN meetings, that is to sell a portion of our portfolio and pay off several of the remaining properties to create long-term passive income!

    We have 11 turn-key rental properties now for sale - 10 in Calgary and 1 in Edmonton - each will appear in a separate post below. All are renovated and rented to excellent tenants. We want these homes to go to good owners, and so will work with good buyers to create favourable terms.

    The all-important numbers are below. We have detailed proformas and photos for each property. If you are interested in any of these properties please email me at garth@cornerstoneventures.ca and title the email with this property's location.

    Garth Chapman

    NOTE - AS AT NOV 2/07 - 3 OF THESE PROPERTIES ARE NOW CONDITIONALLY SOLD (as marked in their respective posts)


    in Martindale on Martingrove Dr NE

    All figures are Monthly

    Total Income $1,500
    Expenses $212

    NOI $1,288

    Mortgage Pmt $1,303

    Cash Flow $(15)

    Rent Increases $675 by adding a Suite & Garage (see notes below)

    Projected Cash Flow $660

    DCR- Current 91%
    DCR- Projected 124%

    Cap Rate- Current 5.5%
    Cap Rate- Projected 7.4%

    General Information
    Zoning R-1
    Building Style 4 level split (back split)
    Garage None
    Year Built 1986
    Square Feet 1,548
    Roof replaced 1986
    Hot Water tank replaced 1986
    Furnace replaced 1986

    Other

    Dining room has built-in cabinetry
    Wood-burning fireplace in rec room
    Fenced yard
    Newer appliances throughout
    Separate walk-up basement entry

    ** Option to add a Basement Suite to increase cashflow & value (see projected figures above)

    House would then be:
    2-bedrooms up, with 2 full bathrooms
    and 1 bedroom Suite with full bathroom
    -Cost would be under $15,000 to add:
    -We will include new Maple kitchen cabinets for the kitchen

    ** Option to build a double detached garage
    -Cost for garage is under $15,000
    -We can help with crew to build garage

    Recent Improvements

    New appliances in 2006
    New lighting, switches & plates in 2006
    New plumbing fixtures in 2006
    New ensuite shower in 2007
    New carpet in main floor in 2007
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Rundle on Rundleville Pl NE

    All figures are monthly

    Total Income $1,850
    Exp
    enses $232

    NOI $1,618

    Mortgage Pmt $1,610

    Cash Flow $8

    Rent Increases $75
    (Projected or In Place)

    Projected Cash Flow $83

    DCR- Current 92%
    DCR- Projected 95%

    Cap Rate- Current 5.5%
    Cap Rate- Projected 5.7%

    General Information
    Zoning R-1
    Building Style Bungalow
    Garage Double detached
    Year Built 1976
    Square Feet 1,180
    Roof replaced 1990
    Hot Water tank replaced 2005
    Furnace replaced 2005
    Electrical upgraded 2005

    Other Misc

    Washer & Dryer included
    Laminate hardwood floors in main floor
    Fenced yard
    Large rear deck
    Multi-purpose room in bsmt w. cabinets (was a kitchen)
    Mature trees and landscaping
    Close to major roads, shopping, LRT & bus
    Excellent Tenants

    Recent Improvements
    Complete renovation in '05 & '06, including-
    All new carpet in basement
    Professionally painted, including all ceilings both levels
    New lighting, switches & plates
    Window coverings
    Appliances
    Basement development is all-new
    Upgraded electrical panel
    Rear deck new in 2005
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Douglas Ridge on Douglas Ridge Circle SE

    All figures are monthly

    Total Income $1,750
    Ex
    penses $268

    NOI $1,482

    Mortgage Pmt $1,764

    Cash Flow $(282)

    Rent Increases $75
    (Projected or In Place)

    Projected Cash Flow $(207)

    DCR- Current 80%
    DCR- Projected 83%

    Cap Rate- Current 4.7%
    Cap Rate- Projected 4.9%

    General Information
    Zoning R-1
    Building Style 2 Storey
    Garage Double attached
    Year Built 1998
    Square Feet 1,645
    Roof replaced Original
    Hot Water tank replaced Original
    Furnace replaced Original

    Other

    Large bonus room over garage
    Fenced yard
    Great neighbourhood, very friendly street
    Excellent Tenants

    Recent Improvements
    Renovated in 2006, including-
    Flooring
    Paint
    Appliances
    Lighting, switches & plates
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Monterrey Park on Laguna Circle NE

    All figures are monthly

    Total Income $2,195
    Expenses $235

    NOI $1,960

    Mortgage Pmt $
    1,657

    Cash Flow $
    303

    Rent Increases $175
    (Projected or In Place)

    Projected Cash Flow $478

    DCR- Current 104%
    DCR- Projected 111%

    Cap Rate- Current 6.3%
    Cap Rate- Projected 6.8%

    General Information
    Zoning R-1
    Building Style Bi-Level
    Garage New detached double 20 x 20
    Year Built 1991
    Square Feet 1,012
    Roof replaced Unknown
    Hot Water tank replaced Original
    Furnace replaced Original

    Other
    Large windows on both levels
    Fenced yard with Great orignal childrens artwork
    Large wood construction garden shed
    Close to major routes and shopping
    1 block to bus
    Quiet cul de sac with playground in centre
    Excellent Tenants

    Recent Improvements

    Renovated in early 2006
    Separate laundry in each Suite
    New garage in 2007
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Pineridge on 23 Ave NE

    All figures are monthly

    Total Income $2,050
    E
    xpenses $244

    NOI $1,806

    Mortgage Pmt $1,612

    Cash Flow $194

    Rent Increases $100
    (Projected or In Place)

    Projected Cash Flow $294

    DCR- Current 100%
    DCR- Projected 104%

    Cap Rate- Current 6.0%
    Cap Rate- Projected 6.3%

    General Information
    Zoning R-1
    Building Style Bungalow
    Garage New Detached Triple - 24 x 32
    Year Built 1974
    Square Feet 1,087
    Roof replaced unknown
    Hot Water tank replaced unknown
    Furnace replaced unknown

    Other
    Fenced yard
    Inter-connected Smoke detectors
    Washer & Dryer included
    Large deck and gazebo
    Enclosed large porch off rear deck
    RV Parking beside garage
    Excellent Tenants
    Large tool/garden shed

    Recent Improvements
    Complete renovatiuon in 2006, including-
    Flooring
    Paint, including ceilings
    New Kitchen cabinets
    Lighting
    Plumbing fixtures
    Window coverings
    Appliances
    Switches and plates

    All new development in basement, including:
    Wet bar
    2 large bedrooms
    All new flooring, lighting, plumbing, etc

    New fence in 2007
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Pineridge on 28 Ave NE - CONDITIONALLY SOLD

    All figures are monthly

    Total Income $2,425
    Expenses $255

    NOI $2,170

    Mortgage Pmt $1,575

    Cash Flow $595

    Rent Increases $125
    (Projected or In Place)

    Projected Cash Flow $720

    DCR- Current 118%
    DCR- Projected 122%

    Cap Rate- Current 7.3%
    Cap Rate- Projected 7.7%

    General Information
    Zoning R-1
    Building Style Bungalow
    Garage Double detached - 22 x 24, insulated
    Year Built 1977
    Square Feet 1,053
    Roof replaced 1991
    Hot Water tank replaced 2007
    Furnace replaced unknown

    Other
    Washer & Dryer included
    Shared Laundry
    Inter-connected Smoke detectors
    Suite also has small den
    Large fenced yard
    Large shed
    Fountain in back yard
    Off-street parking for 3 cars beside garage
    Wood burning Fireplace in Suite
    Excellent Tenants

    Recent Improvements
    Complete renovation in 2007, including-
    Extensive use of ceramic tile flooring
    Paint, including ceilings
    Lighting
    Appliances
    Switches & Plates
    Plumbing fixtures
    6" baseboards
    Window coverings
    Suite in kitchen is all-new, including cabinets
    Main floor kitchen re-done in oak about 1995
    Large bedroom windows in Basement Suite
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Acadia on 5th St SE

    All figures are monthly

    Total Income $2,350
    Expenses $265

    NOI $2,085

    Mortgage Pmt $1,744

    Cash Flow $341

    Rent Increases $120
    (Projected or In Place)

    Projected Cash Flow $461

    DCR- Current 105%
    DCR- Projected 110%

    Cap Rate- Current 5.0%
    Cap Rate- Projected 5.3%

    General Information
    Zoning R-1
    Building Style Bungalow
    Garage Oversized Double Detached - 24 x 24. insulated with workbench
    Year Built 1961
    Square Feet 1,065 main floor. Approx 900 in Suite
    Roof replaced unknown
    Hot Water tank replaced 1996
    Furnace replaced 1996

    Other

    Fenced yard with large wood garden shed
    Inter-connected Smoke detectors
    Shared Laundry - Washer & Dryer included
    Large deck off main floor dining room
    Oak hardwood flooring in main floor
    Suite has large storage room & very large bedroom
    Jetted tub in main floor bath
    Close to major roads,shopping, bus & LRT
    Excellent Tenants

    Recent Improvements
    Entire exterior painted in Sept 07, including:
    - Stucco, siding, all trim, fence, soffits & facia, garage trim, deck
    Complete renovatiuon in late 2006, including-
    Flooring, including refinished hardwood flooring
    Paint, including ceilings
    Lighting
    Some plumbing fixtures
    Window coverings
    Appliances
    Switches and plates
    New kitchen in Suite
    All new drywall & Insulated ceiling in Suite
    New large bedroom window in suite (meets egress code)
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Fairview on Flavelle Rd SE - CONDITIONALLY SOLD

    All figures are monthly

    Total Income $1,875
    Expenses $262

    NOI $1,613

    Mortgage Pmt $1,744

    Cash Flow $(131)

    Rent Increases $0
    (Projected or In Place)

    Projected Cash Flow $(131)

    DCR- Current 86%
    DCR- Projected 86%

    Cap Rate- Current 5.2%
    Cap Rate- Projected 5.2%

    General Information
    Zoning R-1
    Building Style Bungalow
    Garage Oversized Detached Single - 18 x 20
    Year Built 1959
    Square Feet 1,003
    Roof replaced 2007
    Hot Water tank replaced 1990
    Furnace replaced original

    Other

    Fenced yard
    Inter-connected Smoke detectors
    Windows replaced in 2003 approx
    Close to shopping, major roads, LRT and bus
    6 blocks to Elementary school
    4 blocks to Secondary school (1km to Separate Sch)
    Large rear deck

    Recent Improvements
    Complete renovation in 06 & 07, including-
    New shingles on roof (house & garage) & eavestroughs
    New Stucco on house & garage
    All new carpet in bedrooms & basement
    Professionally painted, including all ceilings both levels
    New lighting, switches & plates
    New Bar & Maple Cabinets in basement
    Window coverings
    Appliances
    Front screen door
    Basement ceilings are insulated
    Basement development is all-new
    Upgraded electrical panel
    New concrete floor in garage
    New garage door opener
    Windows replaced in 2000
    Rear deck new in 2000
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Canyon Meadows on Canterbury Dr SW
    All figures are monthly

    Total Income $550
    Expenses $299
    NOI $2,251

    Mortgage Pmt $1,744

    Cash Flow $507

    Rent Increases $175
    (Projected or In Place)

    Projected Cash Flow $682

    DCR- Current 111%
    DCR- Projected 118%

    Cap Rate- Current 6.9%
    Cap Rate- Projected 7.4%

    General Information
    Zoning R-1
    Building Style Bi-Level
    Garage Double 24 x 24 - attached by breezeway/carport
    Year Built 1969
    Square Feet 1,163 plus 900 sq ft developed downstairs
    Roof replaced unknown
    Hot Water tank replaced unknown
    Furnace replaced 2007

    Other

    Separate laundry in each suite
    Hardwood floors on main level
    Fenced yard
    Large rear concrete deck
    RV Parking is over 30 ft long
    Large corner lot with 4 off-street parking spaces
    Mature trees, shrubs & flowers
    Wet bar in Suite
    Electric fireplace in Basement Suite
    Large bedroom windows in Basement Suite
    Good Tenants

    Recent Improvements

    Complete renovation in 2007, including-
    Flooring
    Paint, including ceilings
    Lighting
    Appliances
    Switches & Plates
    Window coverings
    Suite in kitchen is all-new, including cabinets
    Main floor kitchen re-done in oak about 1995
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Millrise on Millcrest Way SW

    All figures are monthly


    Total Income $2,175
    Expenses $222
    NOI $1,953

    Mortgage Pmt $1,516
    Cash Flow $437

    Rent Increases $
    75
    (Projected or In Place)

    Projected Cash Flow $512

    DCR- Current
    111%
    DCR- Projected 114%

    Cap Rate- Current 6.8%
    Cap Rate- Projected 7.1%

    General Information
    Zoning R-1
    Building Style Bungalow
    Garage Single detached 16 x 20
    Year Built 1983
    Square Feet 1,054
    Roof replaced 2007
    Hot Water tank replaced Unknown
    Furnace replaced Original

    Other
    Both Suites were renovated in 2005
    Mature trees and shrubs
    Walk to LRT and major shopping centre
    Always full
    Laminate floors in main floor

    Recent Improvements
    Suite was renovated in 2005
    New roof in 2007
    Newer appliances throughout
    Separate laundry in each suite
    Fenced rear yard
    Excellent Tenants
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
  • GarthChapman

    Status: REIN™ Member

    Posts: 1,835
    Joined: 30 Aug 2007
    From:

    in Garneau 3 blocks from U of A on 84 Ave, Edmonton - CONDITIONALLY SOLD

    All figures are monthly

    Total Income $3,595
    Expenses $1,044

    NOI $2,551

    Mortgage Pmt $2,157

    Cash Flow $394

    Rent Increases $505
    (Projected or In Place)

    Projected Cash Flow $899

    DCR- Current 118%
    DCR- Projected 131%

    Cap Rate- Current 7.8%
    Cap Rate- Projected 8.9%

    General Information
    Zoning RA-7
    Building Style 2 Storey - flat roof
    Garage Old double detached - 20 x 20 (dirt floor)
    Year Built 1949
    Square Feet 1,855
    Roof repaired 2005 - (tar & gravel roof)
    Hot Water tank replaced est 2000
    Furnace replaced est 2000 - 2 furnaces

    Other
    Separate entrance for each suite
    Hardwood floors on 2 upper levels
    Basement suite is funky
    2 blocks to U of A and trendy Whyte Avenue
    2 of the 3 Tenants are good long-term renters with us, 1 is new
    Coin-op laundry included
    Major exterior renovation in 2006, included-
    Stucco

    Recent Improvements
    New Windows
    Paint all including trim
    Screen doors
    Lighting
    * Garage exterior was also re-done to match house
     Garth 
     Diamond REIN member  and Advisory Board Member
      with 3 top-10 awards. 2 Michael Millenaar Leadership Award
    s
     Mortgage Advisor  Residential, Multi-family, Commercial
      Garth's webpage at Jencor Mortgage      email garth@jencormortgage.com

     
    REMA co-creator 
      Real Estate Management & Analysis Software      
    email garth@remacanada.ca
     
                  
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