10 3 Street Ne, Cypress County, Alberta T1J2P0

Property Description

Exceptional turnkey investment opportunity in Redcliff. This fully revitalized 20-suite apartment building offers a compelling mix of stable long-term residential income and flexible furnished-suite revenue. Operating as a traditional multifamily property, the building includes 10 long-term residential tenancies and 10 fully furnished suites designed for shorter or extended stays. The suite mix includes one two-bedroom and 19 one-bedroom suites. Upstairs are 10 residential apartments, including several renovated suites mixed with more classic-style apartments, offering durable finishes, strong occupancy history, and dependable rental income. The main floor features 10 newly reconstructed, fully furnished one-bedroom suites in new condition. Each is equipped with a kitchenette, small wares, furniture, décor, keypad entry, and efficient through-wall electric heat/cool units for individual climate control. These suites add valuable flexibility for extended-stay guests, workforce accommodation, and shorter-term rentals while maintaining the overall feel and function of a well-run apartment building. Major capital improvements have already been completed, including a complete exterior revitalization with new cladding, windows, and doors, along with repoured sidewalks. Additional improvements include a boiler replaced in 2022, four newer hot-water tanks, ample electrical capacity, and approximately 20+ on-site parking stalls. Exterior work currently underway will be completed prior to possession, with no outstanding maintenance project for a new owner to tackle. The property is owner operated with low overhead and minimal staffing requirements. A main-floor common area includes two coin-operated washers and two coin-operated dryers, plus separate laundry for housekeeping if desired. Located in the heart of Redcliff, steps from Main Street, next to the museum, and minutes from the Trans-Canada Highway, this property is well positioned for both residential tenants and furnished-suite guests. A rare stabilized 20-suite asset with modernized suites, solid tenancy history, meaningful upgrades, generous parking, and multiple income strategies in one standout Southern Alberta property.