- For Sale $2,497,500
- Property Type Other
- Units 8
- Year Built 2026
- Date Updated May 19, 2026
Description
The Property is located in the central Edmonton neighbourhood of Spruce Avenue, providing excellent access to a wide range of amenities and major transportation corridors. Spruce Avenue Park is located directly across the street from both lots and offers expansive green space, sports fields, playground facilities, and an active community league. The park is also slated to become the future site of a newly constructed public school with a planned capacity for 605 students.
The well-established 118th Avenue commercial corridor lies just north of the neighbourhood and provides a variety of everyday services such as grocery stores, gas stations, daycares, and personal services. Additional nearby retail amenities include convenience stores, restaurants, fast food outlets, and specialty shops.
The Property benefits from close proximity to major post secondary institutions, healthcare employment hubs, and regional retail destinations. NAIT is within walking distance, while MacEwan University is an 8-minute drive, collectively enrolling over 60,000 students annually. The Royal Alexandra Hospital and Glenrose Rehabilitation Centre are located just south of the Property and collectively employ over 15,000 healthcare professionals. Kingsway Mall is approximately 350 metres away and provides more than 977,000 square feet of retail space anchored by national tenants such as Walmart and HomeSense, alongside a broad mix of supporting retailers and services
Highlights
- Built by one of Canadas largest privately held residential developers, the Propertys standout quality is a product of the construction standards and 75 years of experience of Streetside Developments. A subsidiary of Qualico, Streetside is known for disciplined project execution, durable construction, and thoughtful design, offering a purchaser lower construction risk, predictable operating performance, and reduced routine capital expenditure. 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.
- High-Leverage Financing Opportunity
- Purchaser Controlled Lease-Up
- Subject to a firm agreement, the Vendor will permit the purchaser to control the lease-up process, providing full flexibility to lease up the property prior to possession and meet their financing terms. This structure allows investors to actively manage lease terms and optimize initial lease terms. By taking on the lease-up directly, the purchaser can ensure CMHC COI conditions are met and control asset performance.
- Superior Tenant Appeal & Rent Durability
- The Property offers the opportunity to secure CMHC MLI Select financing of up to 95% LTV with a 50 year amortization, resulting in an equity requirement of under $150,000
- The Property stands out amongst other infill 8-plexes by offering tenants luxury and convenience without sacrificing affordability. Private entrances, two-storey layouts, no stacked units, landscaped yard areas, in suite laundry, and durable, high-quality finishes enhance tenant appeal while minimizing turnover. Proximity to major employment and amenity nodes, including NAIT, Kingsway Mall, Royal Alexandra Hospital, and Downtown Edmonton, supports strong and stable demand. Together, these factors will drive initial lease-up, rent stability, and sustainable long-term yield.
- Top Development Quality
False
Contacts
Avison Young
Avison Young
Avison Young
Avison Young
Avison Young
