University 114
11329 University Avenue, Edmonton, AB
The Offering
Institutional Property Advisors, a division of Marcus & Millichap, is pleased to present the exclusive opportunity to purchase University 114, a recently completed luxury investment property, desirably located adjacent to the University of Alberta, placing residents within walking distance of a wide array of amenities and employment centres, making it the ideal home for students and professionals alike.
The Property is comprised of 132 residential suites expertly designed with stainless steel appliances, stone countertops, triple-glazed windows, in-suite laundry, patios/balconies, and radiant in-floor heating. The building comes with an abundance of amenities including resident lounge, secure underground parking, a courtyard with BBQs, dog-wash station, and modern LED lighting throughout.
Investment Highlights
○ MODERN DESIGN AND QUALITY PRODUCT: The suites are well-designed with luxury finishes including stainless steel appliances, in-suite laundry, luxury vinyl plank flooring, and triple-glazed windows.
○ NEWER GENERATION ASSET: Edmonton's housing market is on the upswing, driven by an influx of both international and interprovincial migration. With tight market vacancy, University 114 can strategically increase rents to capitalize on the market.
○ STABILIZED ASSET WITH ASSUMABLE FINANCING: The Property first gained occupancy in 2024 and has filled consistently over the last twelve months. Tenant renewals are now experiencing considerable rent increases on turnover, and the Property benefits from existing CMHC MLI Select financing in place and ready for assumption.
