92 Oak Street Red Deer, Alberta T4P 1S1

$509,000

INVESTOR ALERT!!!Introducing 92 Oak Street, Red Deer – an outstanding 1978 Bi-Level four-plex that presents an excellent investment opportunity. This property offers a unique chance for investors to secure a steady rental income stream. The four-plex structure consists of units spread over two floors, ensuring spacious living arrangements that appeal to tenants.With a private rear parking area providing one dedicated stall for each of the four units, as well as additional street parking, convenience is at the forefront. Meticulously maintained by its current owners, the property is in impeccable condition, guaranteeing peace of mind for potential buyers looking to make a wise investment.The units come equipped with essential appliances such as refrigerators, stoves, washers, and dryers. Any additional appliances needed are the responsibility of the tenants, adding to the property's low upkeep for owners.Each unit offers a unique living arrangement:- The upper level consists of approximately 568 sq/ft, featuring one bedroom, a 2-piece bathroom, family room, dining room, laundry area, and kitchen.- The lower level comprises approximately 511 sq/ft, offering two bedrooms, a 4-piece bathroom, and a utility room.The property has been consistently fully tenanted, making it an attractive and reliable income generator for investors. Balconies of all units have been meticulously maintained and repaired by the owner, showcasing the commitment to a well-maintained property.Strategically situated near Taylor Dr and 67th St, the property benefits from easy access to various amenities, including doctors' offices and shopping centers. The location is also conveniently just a 5-minute drive from QEII and Downtown, adding to its overall appeal.A unique advantage for potential buyers: With one unit recently becoming vacant, new owners have the option to live in one of the units while the other three units contribute to covering the mortgage. This presents a smart str ategy to maximize returns. Another notable aspect is that all four units were combined onto one title in 2023, streamlining the administrative process for the new owner.Overall, 92 Oak Street holds significant potential for investors seeking a reliable income source. Its strategic location, well-maintained condition, and the possibility of owner occupancy make it a compelling proposition. If you're looking to make a wise investment that offers both immediate and long-term benefits, don't miss the chance to explore 92 Oak Street. (id:33281)

Property Details

Building

Parking

Land

https://www.realtor.ca/real-estate/25978216/92-oak-street-red-deer-oriole-park