Elgin Apartments

The 124th street portfolio consists of 99 well-positioned units with a count ranging from 22 to 44, creating operational and management efficiencies. Currently, the properties have a below-market rental rate. As a result, there is an opportunity to increase purchaser NOI by increasing rental revenue.

The Properties are located on the highly sought-after 124th Street. Designated as a main street, 124th street hosts monthly events and active commercial areas that attract high traffic volumes. The Property’s central location provides residents with excellent access to employment centers, public transportation, retail corridors and outdoor activities. As a landmark, 124th street is unique to Edmonton and embodies the active and community-driven nature of the surrounding area. Located immediately north of Downtown, the Properties are within a 10-minute drive to Grant MacEwan University, Ice District, NAIT, and the Royal Alexandra Hospital. Demand for multifamily rentals continues to accelerate in the downtown core due to the resumption of work and post-secondary institutions. Young professionals and students are seeking the convenient and highly active lifestyle that central residencies provide. As a result, existing multifamily builds like Arbor, Westfield, and Elgin are expected to show minimal vacancy.