512 Balmoral St, Winnipeg

Offered For Sale at $2,600,000 ($92,857 per unit) with all offers to be submit to the Vendor and reviewed upon receipt.\n\n512 Balmoral Street is located just north of the University of Winnipeg in a steady, working-class neighborhood. This fully occupied apartment building, constructed in 1972, has been meticulously maintained by its long-standing private owner and offers the next investor a solid foundation for ongoing success. The surrounding trade area is experiencing gentrification, with new apartments, restaurants, and retail establishments continuing to emerge, presenting an excellent opportunity for investors seeking a stabilized asset in a mature area of Winnipeg, with convenient access to both Portage Avenue and the University of Winnipeg.\n\nFEATURES\n\n• 100% leased, providing a stable income, and with 28 units, this asset is of a manageable scale.\n\n• Winnipeg's apartment market is currently experiencing remarkably low vacancy rates, making apartments a top-performing asset due to strong demand for housing.\n\n• Clear of financing, resulting in flexible acquisition financing and repositioning potential through CMHC.\n\n• The building features an efficient design and has been impeccably maintained by the current owner, with multiple long-term tenancies in place.\n\n• Significant value add potential through suite renovation and capital investments. (id:1945)