Is Ottewell a good area to invest in Edmonton?

[CurtisMelissa]

I am looking at a single family home in Ottewell. I intend to create a suite in the basement. Do any experienced investors have any information about this area, such as vacancy rates? Any opinions about the future outlook of this area?



Any information would be very much appreciated.

 

[Pindy4]

Sorry, I can't help, but as I'm looking at investing in Edm in the near future I thought I could maybe piggy-back on your question. I'm looking for single family homes; don't know Edm. If not Ottewell (experienced Edmonton investors), any other tips?

 

[kir]

It's a great area. It's centrally located and largely a desirable place to live.

I would consider buying into this area and relocating my family there as a principle resident.

Vacancy is going to depend on rents of course.

It's nice, but I'm not sure if cash flow can be achieved. I suppose this is why you want to create a basement suite.



I think the future outlook looks good. Examine the impact of the SE LRT extention in Edmonton.



Kir.

 

[CurtisMelissa]

Thanks for the reply. It does look like a desirable location, my only concern is that it may not be close enough to the proposed LRT extension to impacted by it.

 

[brentdavies]

I grew up in Ottewell, and know the area well. Good stable neighborhood. Many seniors still living in the neighborhood. High owner occupied neighborhood. This is not a traditionial cash flow neighborhood, so finding good comparable is hard. Low vacancy for good properties.



Yes is it too far away from the proposed LRT for any future impact.



Basement windows in most homes will be too small and must in increased in size, which will include cutting concrete. (few bilevel homes in this neighborhood.)