- For Sale $6,300,000
- Property Type Other
- Units 19
- Date Updated May 18, 2026
Description
AAA Neighborhood
The Property is located in Glenora, one of Edmonton’s most established and affluent central neighbourhoods. Defined by high-end commercial amenities, estate homes, and limited multifamily supply, Glenora consistently ranks among the city’s most desirable residential communities for its convenience and luxury.
The neighbourhood’s median household income of $126,572 is approximately 43.8% higher than Edmonton and 33.8% above the Alberta median, supporting a tenant base capable of sustaining top-of-market rental rates. Total crime in Glenora is approximately 60% lower than both Edmonton and Alberta, and roughly 40% below the national average, reinforcing its reputation as a secure, stable community.
These fundamentals drive demand for higher-quality, low-density rental product. Tenants in Glenora typically seek accommodation that mirrors single-family living rather than traditional apartment-style units. Townhome style product meets this demand by offering a more independent living experience, featuring private entrances, vertical layouts, and greater separation between units while maintaining rental affordability.
Located just north of Stony Plain Road, the Property benefits from strong transit access and the future Valley Line West LRT expansion, improving connectivity to Downtown and major employment nodes. The community offers immediate access to the North Saskatchewan River Valley, the largest urban park system in North America, as well as MacKinnon Ravine Park. Additionally, more than 630,000 square feet of commercial space across West Block, Westmount Centre, and Jasper Gates Plaza is within walking distance, providing residents with comprehensive retail, dining, and service amenities.
Glenora’s income profile, safety metrics, limited supply, and expanding infrastructure position it as one of Edmonton’s premier rental locations, supporting durable occupancy and sustained rent growth.
Highlights
- Delivered by Streetside Developments, Qualicos Multifamily arm with over 75 years of residential development experience, the Property benefits from disciplined execution, durable construction, and thoughtful design. As newly constructed purpose-built rental product, the asset offers above average operating performance and minimal near-term capital expenditure requirements. The Property is a rare opportunity for a private investor to acquire a sizeable new purpose-built rental portfolio with top-of-market construction quality.
- INSTITUTIONAL-GRADE CONSTRUCTION QUALITY & LOWER CAPITAL RISK
- MINIMAL EQUITY REQUIREMENT WITH CMHC MLI SELECT FINANCING
- PURCHASER-CONTROLLED LEASE-UP & REVENUE OPTIMIZATION
- PURPOSE-BUILT TOWNHOME PRODUCT WITH FUTURE UPDSIDE
- The Property comprises 19 newly constructed bi-level townhome-style suites featuring private entrances and functional 2 Bed / 1.5 Bath layouts. Ten units include unfinished basements, providing future value-add potential through conversion to 3 Bed / 2.5 Bath configurations. Nine units include single-car garages with driveways, further differentiating the asset from traditional apartment product and supporting premium tenant demand.
- The Property offers the opportunity to secure CMHC MLI Select financing of up to 95% loan-to-value with a 50-year amortization, resulting in an approximate equity requirement of $315,000 (subject to underwriting). This structure provides investors with significant leverage and enhanced return on equity.
- The purchaser will be responsible for pre-leasing the Property, with the Vendor providing a minimum 60-day period following removal of conditions to facilitate lease-up prior to closing. This structure allows investors to actively manage rental strategy, establish true market rents, and structure financing to meet CMHC underwriting requirements.
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Contacts
Avison Young
Avison Young
Avison Young
Avison Young
Avison Young
