The Northwest Apartment Portfolio

Edmonton, AB

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Property Details

  • Property Type: Walk-Ups
  • Total Properties: 3
  • Total Units in Portfolio: 248
  • Years Built: 1969 - 1982
  • Zoning: Medium Scale Residential (RM h16)
  • Parking: Surface & Covered (Terrace Garden)
  • Laundry: Shared
  • Cap Rate Guidance: 5%

Location Overview

This portfolio of 3 existing multifamily buildings is located across the Northwest quadrant of Edmonton. All 3 properties have close proximity to important and essential amenities, while each also carry unique highlights from their locations within the city.

Lorelei House is located next to walking paths that lead to outdoor spaces within the community, including playgrounds, sports fields and the Beaumaris Lake. Terrace Garden Estate's location is convenient for its quick access to the Palisades shopping corridor along 137th Avenue and Public Library across the street. Westmoreland is close to major employment and commuting options, being within walking distance of Mayfield Common, and a short drive from Terra Losa Shopping Centre and West Edmonton Mall with its future LRT station.

Property Highlights

Lorelei House (78 Units) Built:1982

Two 4-storey walk-up style apartment buildings. With a total of 78 units, the property is comprised of 32 one bedroom and one bath (41%), 45 two bedroom and one bath (58%), and 1 three bedroom and two bath (1%) suites. The property features a parking ratio of 1.15 with 90 energized stalls available between the 2 buildings, shared laundry is also on-site for tenants.

Terrace Garden Estates (114 Units) Built:1969
Nine conjoined buildings, each with three floors containing a total of 114 units. The buildings include a mix of 2 bachelor (2%), 67 one bedroom and one bath (59%), 41 two bedroom and one bath (36%) and 4 three bedroom and one bath (3%) suites. The Property includes a covered parking structure with 40 covered stalls, and 139 surface stalls, resulting in a total parking ratio of 1.57. Shared laundry is available on-site for tenants.

Westmoreland Apartments (57 Units) Built:1970

A 4-storey walk-up style building with 56 units. The building is comprised of 25 one bedroom and one bath (45%) and 31 two bedroom and two bath (55%) suites. The property includes an energized surface parking lot with a 1:1 parking ratio. Shared laundry and storage rooms are available for tenants.

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Portfolio Brochure

Edmonton Multifamily Team

Amit Grover
Amit Grover
Principal
Avison Young
+1 780 953 1735
Brandon Imada
Brandon Imada
Vice President
Avison Young
+1 780 668 3750
Jandip Deol
Jandip Deol
Principal
Avison Young
+1 780 278 2791
Tracy Olmos
Tracy Olmos
Associate
Avison Young
+1 780 288 0322
Brannon Guenette
Brannon Guenette
Client Services Coordinator
Avison Young
+1 587 400 9899