11818 37 St NW - Apartments FOR SALE


Edmonton, AB T5W 2B8- North
$1,990,000 CAD
587-400-3734
11818 37 St NW, Edmonton, AB for Sale
$1,990,000 CAD
Apartments - FOR SALE
1/2
null | 5.4% Cap Rate

11818 37 St NW
Edmonton, AB T5W 2B8
North


HIGHLIGHTS

  • MLI Select Potential
  • Brand New Construction

OVERVIEW

BRAND NEW 7-UNIT MULTI-FAMILY INVESTMENT OPPORTUNITY 11818 37 STREET NW, EDMONTON, AB MLI SELECT FINANCING POTENTIAL | NEW CONSTRUCTION | STRONG PROJECTED INCOME An exceptional opportunity to acquire a brand-new 7-unit multi-family rental property in Edmonton, featuring a highly functional unit mix, modern construction and attractive projected investment fundamentals. The property is designed to provide a compelling combination of new-build quality, diversified rental income and potential access to CMHC MLI Select financing, subject to lender and CMHC confirmation of the project's applicable affordability, energy-efficiency and/or accessibility commitments. INVESTMENT HIGHLIGHTS Brand-new 7-unit multi-family property Excellent mix of 2-, 3- and 5-bedroom accommodations, including a 5-bedroom configuration with in-law suite potential Modern kitchens featuring stainless-steel appliances Spacious living and dining areas Private outdoor/deck areas Stacked laundry facilities Individual heating and hot-water systems HRV ventilation incorporated into the building design Contemporary exterior featuring siding, Hardie-panel and stone accents Approximately 575.65 m² lot area Approximately 4,415 sq. ft. above-grade area Approximately 2,402 sq. ft. basement area Approximately 6,817 sq. ft. total building area, based on the architectural drawings Professionally designed new construction with engineered building components and fire-rated separations CMHC MLI SELECT FINANCING POTENTIAL A significant feature of this offering is the property's potential to qualify for CMHC MLI Select financing. CMHC MLI Select is available to qualifying new-construction multi-family projects with a minimum of five rental units and provides enhanced financing flexibilities based on qualifying commitments to affordability, energy efficiency and/or accessibility. Depending on the project's verified MLI Select score, available benefits can include higher loan-to-value ratios, extended amortization periods, reduced premiums and lower debt coverage requirements. With seven rental units, this project meets CMHC's minimum project-size requirement. The architectural plans also incorporate energy-conscious building features, including HRV requirements and detailed insulation/air-barrier specifications. Final MLI Select eligibility and the applicable score remain subject to confirmation by an approved CMHC lender, including the required energy modelling, affordability analysis and/or accessibility documentation. For investors, this creates the potential for attractive CMHC-insured financing terms and enhanced leverage compared with conventional financing, subject to qualification. PROJECTED FINANCIAL PERFORMANCE Based on the provided pro forma: Metric Projected Gross Potential Revenue $148,200 / year Effective Gross Revenue $142,272 / year Operating Expenses $34,746.56 / year Projected NOI $107,525.44 / year Underwriting Value $2,050,000 Estimated Cap Rate 5.25% Projected DSCR 1.22x Projected Cash-on-Cash Return 9.62% The pro forma anticipates a diversified rental profile across the seven units, providing investors with multiple income streams and reduced concentration risk compared with a single-family rental asset. NEW-CONSTRUCTION ADVANTAGE The architectural plans identify a purpose-built multi-unit development on approximately 575.65 m², with a building footprint of approximately 224.29 m². The plans provide approximately 4,415 sq. ft. of above-grade floor area and 2,402 sq. ft. of basement area. The building design incorporates modern construction details including engineered floor systems, HRV-related ventilation requirements, insulation assemblies, air-barrier detailing, radon mitigation provisions and fire-rated separations. INVESTMENT RATIONALE This offering provides an opportunity to acquire a new-generation multi-family asset without the construction and development risk associated with starting a project from the ground up. The combination of new construction, modern suites, family-oriented unit sizes, projected rental income and potential CMHC MLI Select financing makes the property particularly attractive to investors seeking long-term rental income and financing efficiency. A rare opportunity to acquire a brand-new, income-producing multi-family property with the potential to leverage CMHC MLI Select financing — an attractive combination of modern construction, diversified rental income and long-term investment potential. Financial projections are based on the provided pro forma and are for information purposes only. CMHC MLI Select eligibility, scoring, financing terms and available loan proceeds are subject to confirmation by an approved CMHC lender and CMHC underwriting. Buyers should independently verify all rents, expenses, suite configurations, permits, zoning and financing assumptions. Landscaping, construction completion and appliance installation currently in progress.

FOR SALE DETAILS

PRICE

$1,990,000 CAD

PRICE/SF

$292 CAD /SF

# OF UNITS

7

PRICE/UNIT

$284,286

CAP RATE

5.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

11818 37 Street NW, Edmonton

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,082 SF

ZONING

RS - Small Scale Resident

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Terence MajorMaxWell Commercial (Polaris)More Info
587-400-3734

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Terence MajorMaxWell Commercial (Polaris)More Info
587-400-3734

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.