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Reduced $149,000 (10%) from $1,499,000
4507 48 Avenue
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Beds
—
Baths
—
Sqft
1,554
Year
2023
Type
Multi-family
On market
211d
INVESTMENT OPPORTUNITY in SYLVAN LAKE!Discover this exceptional like new 2023 fourplex, ideally located in the heart of Sylvan Lake — a vibrant community known for its beautiful lake, golf courses, lively downtown filled with shops and restaurants, and a top-notch hockey arena at the NexSource Centre. Each high-end, spacious unit features 4 bedrooms and 3.5 bathrooms, offering exceptional value and comfort. The main floor welcomes you with a bright, open-concept design that includes a stylish kitchen with a walk-in pantry, a cozy living room, and a convenient 2-piece bath. From the living area, 2 suites step out onto the private deck that overlooks a fully fenced backyard and two suites out to the front area, perfect for relaxing or entertaining. Upstairs, you’ll find three generous bedrooms and a full 4-piece bathroom. The primary suite boasts a walk-in closet and its own luxurious 4-piece ensuite. The finished basement adds even more living space, featuring a family room, an additional bedroom, and another full 4-piece bath—ideal for tenants seeking space and privacy. Situated close to shopping, schools, the community centre, and just three blocks from the lake, this property offers both convenience and lifestyle appeal. All units currently rented for $2400 each plus utilities. A rare opportunity to own a 4-plex in one of Central Alberta’s most desirable lakeside towns! (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
-0.73%
Cap rate
4.72%
GRM
13.9
Break-even rent
$8,272
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.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
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. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider 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 7, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Sylvan Lake. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.