38-Unit Turnkey Investment Property in Garneau | MLI Select
Scale your real estate portfolio with this brand-new, modern 38-unit multi-family development in Garneau — one of Edmonton’s most in-demand rental communities, situated in the highly sought-after University of Alberta district. Fully qualifying under CMHC MLI Select, this turnkey income property combines a prime location, a built-in tenant base, and financing terms designed for long-term wealth.
Financial Breakdown:
- Purchase Price: $8,410,000
- Total Deposit: $425,000 (5% Deposit, payable in instalments)
- Projected Cash Flow: ~$86,000/year (After all expenses and debt services)
- Amortization: Up to 50-year amortization under CMHC MLI Select
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PROJECT FEATURES
This massive, high-capacity complex is carefully engineered to deliver 38 separate living spaces, maximizing rental income while minimizing upkeep.
- 38 Premium Units: A highly optimized unit mix featuring 6 Studios, 24 One-Bedroom, and 8 Two-Bedroom layouts.
- Brand-New Construction: Turnkey ready with zero deferred maintenance and high energy efficiency.
- Premium Rental Rates: Brand-new builds in Garneau command a 15% to 20% rental premium over neighborhood averages, with historically low turnover.
Prime Location: Garneau & University District Advantages
Garneau is a high-density, high-demand rental pocket offering an exceptional lifestyle and unmatched convenience.
Anchor Institutions
Anchored by the University of Alberta and the Stollery Children's Hospital just blocks away, creating a reliable, low-vacancy tenant base of students, medical professionals, and academics.
Lifestyle & Entertainment
Residents are mere steps from Whyte Avenue (82nd Ave) — Edmonton's premier lifestyle corridor packed with cafés, shopping, and excellent transit options.
Nature & Recreation
Enjoy immediate, walkable access to Kinsmen Park and the highly desirable North Saskatchewan River valley trail network.
