For Sale

Property Details

  • Property Type: Multifamily - Single-Storey
  • Year Built: 2001
  • Units: 16
  • Structure: Wood-Frame
  • Parking: 8 garage stalls + outdoor
  • Site Size: 2.12 Acres
  • List Price: $1,680,000 ($105,000/unit)
  • Land Use: Residential (Plamondon & Area ASP)

Location Overview

Plamondon is a bilingual hamlet in Lac La Biche County, located approximately 30 km east of Lac La Biche and roughly 2.5 hours northeast of Edmonton. The community is one of the County’s urban service areas and offers local schools, grocery, fuel, banking, recreation and community services.

Lac La Biche County’s economy is supported by oil and gas, forestry, agriculture and tourism. The region provides access to major northern transportation corridors and serves residents and businesses throughout northeastern Alberta.

The Property benefits from an exceptionally convenient position within the hamlet. École Beauséjour, École Plamondon School and the North Country Co-op Arena are immediately adjacent to the Property, while grocery and other daily amenities are located within approximately 500 metres.

Investment Highlights

IMMEDIATE CASH FLOW

The Property is offered at a 7.00% going in cap rate and has maintained low historical vacancy, providing immediate cash flow from closing. Current rents include heat, water and power. Power is individually submetered creating potential for future expense recovery and NOI growth.

CMHC ACCESSIBILITY POTENTIAL

Originally constructed as a seniors residence, the Property offers a single-storey, step-free design that may support CMHC MLI Select accessibility points and potential high-leverage financing.
FUTURE DEVELOPMENT POTENTIAL

The 2.12-acre site with excess land supports two additional 16-suite wings, creating potential for up to 32 new suites and 48 total suites at full buildout, subject to verification and municipal approvals.

LIMITED COMPETITION

The Property is Plamondon’s only publicly identified, privately operated purpose built rental community. The balance of the community’s formal rental supply consists primarily of income qualified public seniors housing, creating limited direct competition for market rental accommodation.

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