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5012 54th Avenue
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High Prairie · Multi-family · under $275,000. Alerts only send when there are new or meaningfully updated matching homes.
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Presenting a turnkey, four-unit multifamily investment property ideally suited for investors seeking immediate, stable cash flow. This well-maintained 4-plex, built in 1970, features four spacious 460-square-foot one-bedroom units, offering an efficient and desirable floor plan for tenants. The property's strongest selling point is its impeccable occupancy and tenant stability: it is currently 100% leased, with a proven track record of long-term tenancy that significantly minimizes turnover costs and income disruption. Two of the units (Units 3 and 4) have been reliably rented by the same tenants since 2018, demonstrating both the property's desirability and the area's strong rental demand. Complementing this exceptional stability are the remaining units; Unit 1 has been occupied by a steady tenant for over two years, while Unit 2 rounds out the portfolio with a one-year tenancy. This diversified lease-up history means no short-term vacancies to worry about and no expensive marketing or renovation costs on the immediate horizon. The property's vintage 1970 construction speaks to its solid, durable build, and with all units currently generating consistent rental income, this offering provides an investor with a truly hassle-free acquisition. Whether you are expanding your portfolio or acquiring your first multifamily asset, this 4-plex delivers the rare combination of immediate returns, low risk, and long-term appreciation potential. Schedule your private showing today—a property with this level of tenant stability will not last long on the market. (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
18.25%
Cap rate
8.51%
GRM
8.7
Break-even rent
$1,600
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 Jul 10, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.