$999,900
5230 44 Avenue
Beds
—
Baths
—
Sqft
22,177
Year
1960
About this home
Pleasant View Lodge in Spirit River, Alberta presents a rare opportunity to acquire a well-maintained, institutional-quality 42-suite care facility situated on 2.32 acres of R4 High Density Residential land priced at only $45/sqft!. Encompassing 22,177 sq. ft., the building has seen extensive upgrades including boilers (2015), hot water tanks (2022/2023), a torch-on roof (2018), and modern double-glazed vinyl windows, offering a solid, low-risk asset base. Now vacant and ready for immediate occupancy or repositioning, the property features private bathrooms in every suite (26 with full tubs or showers), along with a commercial kitchen, expansive common areas, assisted bathing rooms, staff facilities, office space, commercial laundry, a hair salon, and a 26’ x 40’ maintenance shop. With ample parking, mature landscaping, and a quiet setting near parks and services just 50 minutes from Grande Prairie, this flexible property is ideally suited for seniors housing, assisted living, specialized care, workforce accommodation, or multi-family conversion. (id:65958)
- Subtype
- Multi-family
- Lot size
- 2.32 acres
- MLS#
- A2300850
- Area
- SPIRIT_RIVER
Cash on cash
-11.67%
Cap rate
3.55%
GRM
16.7
Break-even rent
$7,048
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 14, 2026.