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4840 50 Avenue, Vermilion, Alberta
100% OCCUPANCY! WHAT AN INVESTMENT OPPORTUNITY! Historic revenue generating building offered for sale – IMPERIAL BLOCK. This staple of downtown Vermilion was built in 1912 by a group of British cap
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100% OCCUPANCY! WHAT AN INVESTMENT OPPORTUNITY! Historic revenue generating building offered for sale – IMPERIAL BLOCK. This staple of downtown Vermilion was built in 1912 by a group of British capitalists under the name British Investment Corporation/Northern and Vermilion Development Company, the Imperial was intended as a luxury office and apartment block. Mayor J.W.G. Morrison and his wife lived in the Imperial Block for a time during the 1920s. Countless students from the Vermilion School of Agriculture (today’s Lakeland College) boarded here until the school built a dormitory in 1928. Students were shuttled between the school and their rooms by a makeshift bus – a horse-drawn farm wagon fitted with a wide box and plank seats along each side. In winter, the wagon was set on a sleigh. Situated on a 60’ x 120’ lot, the 3 storey building which was constructed of local brick from the Vermilion Brick Factory comprises of a single commercial tenant on the main level, and 8 residential units above. Unit breakdown is: 1: 2bd; 2: oversized 1bd; 3: 2bd; 4: studio; 5: 2bd; 6: 2bd; 7: studio; 8: 2bd. Coin operated laundry on-site. Gross revenue of around $100,000 annually, providing over a 9% CAP rate on this investment opportunity. Contact for financial package to see how you can put your money to work for you! (id:44040)
This Residential property located at 4840 50 Avenue, Vermilion, Alberta comes with bedrooms, bathrooms, and parking with a total of parking spots. This Commercial Mix located in the neighbourhood of Vermilion city has a ownership status and is currently on sale for CA$599,000 canadian dollars. This property MLS#: A2029416 has been live on our site for 273 days
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Harminder has more than 10 years of experience.
Andrew has more than 10 years of experience.
No similar properties found in the system. Click here to explore more properties in Vermilion