Why This Property: North Glenora Side-by-Side Duplex
This month’s “Why This Property” is a side by side duplex in North Glenora. It's located in a desirable mature neighbourhood near schools, parks, public transit and close proximity to downtown. Your tenant profile here will be above average.
This duplex has four suites—two units on the main floor and two in the basement. The property has additional upside potential by legalizing the basement suites. These types of properties have one of the highest return on investments when it comes to Edmonton real estate.
Return on Investment
To determine how good of a deal this could potentially be, I did a quick Market Rent Analysis and Pro Forma financial statement (click the links to download PDFs). This property has a projected $1,003 per month in cash flow and a 27.3% return on investment year over year for the next 5-10 years. This is a great turn-key investment with little management and is a property I would personally purchase.
If you’re interested in this property or buying an investment property and want to get my thoughts or advice, feel free to reach out. I would love to chat.