700 & 800 Genesis Drive (For Sale)

Property Highlights

Excellent investment opportunity!

9-suite walk-up apartment building with a separate 5-car garage which can be demolished and build retail space with living quarters above (the city has approved). 1 bachelor unit, 6 x 1 bdrm units and 2 x 2 bdrm units with hardwood floors, large windows and some renovated units. Room for rental increases plus either rent or rebuild garage site. Cap rate of 5% as is. Currently self-managed.

This property is in (the fully developed) Genesis on the Lakes. Definitely one of the premier subdivisions in Stony Plain! This land is being sold with the adjoining parcel, lot 53 with 1.91 acres for a total of 5.10 acres. It is zoned R4 for low density multi-family development.

Property Details