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15608 103 Avenue
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Great investment and redevelopment opportunity on a prominent corner lot in a high-traffic corridor with CNC zoning. This property offers exceptional flexibility for future CMHC-supported development or mixed-use redevelopment, including retail on the main floor with residential apartments above.The site consists of two side-by-side duplexes (15604 & 15608), each offering separate entrances and self-contained suites with bedroom, bathroom, and kitchen setups, providing strong income-generating potential. Both buildings are separately metered for utilities, allowing for efficient management and cost control.The property is currently vacant, offering quick possession and full flexibility for immediate redevelopment, leasing, or owner-user occupancy. Previously, the main floors were leased, and 15608 also featured a fully equipped commercial ghost kitchen in the basement with an 8-ft canopy, make-up air system, gas stove, dough mixer, prep tables, and more—ideal for food service operations or future commercial use.Located just minutes from the future LRT station at 156 Street & Stony Plain Road, this high-visibility corner site is perfectly positioned for long-term growth and redevelopment potential.A rare opportunity to secure a vacant, income-ready and development-oriented site in a rapidly evolving area. Ideally suited for mixed-use development, a daycare facility, or CMHC-supported residential project. Must be seen to be fully appreciated. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-0.88%
Cap rate
4.69%
GRM
13.9
Break-even rent
$5,846
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 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.
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 18, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.