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

in Rundle on Rundleville Pl NE

All figures are monthly

Total Income $1,850
Expenses $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

in Douglas Ridge on Douglas Ridge Circle SE

All figures are monthly

Total Income $1,750
Expenses $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

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

in Pineridge on 23 Ave NE

All figures are monthly

Total Income $2,050
Expenses $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

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

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)

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

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

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

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