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Investment signal

$685,000

5906 60 Street

Save this home

Beds

Baths

Sqft

Year

1976

Type

Multi-family

Suite

Suite potential

Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Red Deer. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Exceptional investment opportunity in the Riverside community of Red Deer featuring a well-maintained fourplex situated on a massive lot. This property offers four fully self-contained units, each with two bedrooms, providing an ideal layout for consistent rental income. All units are currently tenanted, making this a true turnkey investment with immediate cash flow.Each suite is thoughtfully designed with its own in-unit laundry, offering added convenience and appeal for tenants. The property also features private balconies for each unit, enhancing livability and long-term rental desirability. The expansive, fully fenced lot provides additional outdoor space and privacy, while also offering potential for future value enhancement.Well-positioned within Red Deer, this property benefits from strong rental demand and a stable tenant base. With separate living spaces, desirable unit features, and solid income potential, this fourplex is an excellent addition to any investment portfolio. (id:65958)

Subtype
Multi-family
Architectural style
Bi-level
Structure
Multi-Family
Community
Riverside Meadows
Common interest
Freehold
Living area
1,701 square feet
Lot size
10,400 square feet
Lot dimensions
10400.00
Parking
4 total
On market
Apr 15, 2026
Status changed
Apr 18, 2026
Annual tax
$5,684 (2025)
Zoning
R-L
Photos
8
MLS#
A2302014
Area
RED_DEER
Negative cash flow ~$773/mo at these assumptions

Cash on cash

-6.77%

Cap rate

3.51%

GRM

16.7

Break-even rent

$4,239

Financing

Down payment$137,000
Loan amount$548,000
Mortgage$2,777/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$314
Insurance$80
Maintenance$571
CapEx reserve$285
Vacancy loss$171

Estimates 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.

Mortgage estimate

Estimated $2,777/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 18, 2026.

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