Courtesy Of RE/MAX Commercial Properties

5029 & 5031 47 Street, Sylvan Lake

$1,099,000

0 Baths
3,600 Sqft
0 Acres

This 1-storey (3,600 SF) motel/residential apartment, sitting on two separate lots is just a short walk from Lakeshore Drive! It features 5 - one-bedroom suites, 1 - two-bedroom suite and 1 bachelor suite; all currently occupied by tenants. There is a small basement that holds the boiler and hot water tanks. The combined lots equal to 11,571 SF with 7 stalls included on the property for tenant parking. This area is part of the Town of Sylvan Lake’s Sustainable Waterfront Redevelopment Plan. This is an excellent investment opportunity to bring in cash flow now, with the option to develop the land in the future. As these lots are commercially zoned and in the Waterfront Direct Control District, there are many possibilities for redevelopment. The owner is willing to sell the lots separately. Lot 49 (with motel/apartment structure) is listed at $799,000 and Lot 50 is listed at $300,000 if sold individually.

Essential Information
MLS® #A1232396
Price$1,099,000
Bathrooms0.00
Square Footage3,600
Acres0.00
Year Built1953
TypeMulti-Family
Sub-TypeRow/Townhouse
StatusActive
Community Information
Address5029 & 5031 47 Street
SubdivisionDowntown
CitySylvan Lake
CountyRed Deer County
ProvinceAlberta
Postal CodeT4S 1C5
Amenities
Parking Spaces7
Interior
AppliancesRefrigerator, Stove(s)
# of Stories1
Additional Information
Date ListedJune 23rd, 2022
Days on Market7
ZoningW-DC
Listing Details
Office

Courtesy Of RE/MAX Commercial Properties

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