High-Yield 4-Plex Opportunity in St. Edwards
$725,000
$15
📍 1717 St Edward Boulevard N, Lethbridge, AB T1H 5J3 — This substantial multi-family asset in North Lethbridge offers a rare opportunity to acquire a four-unit building in a stable rental pocket. With a strong price-to-rent ratio, it represents a premier scaleable investment for those looking to expand their Alberta portfolio.
1717 St Edward Boulevard N is a purpose-built multi-family property located in the St. Edwards neighborhood of North Lethbridge. Priced at $725,000, this asset provides investors with immediate scale in one of Alberta's most consistent secondary markets. The property is situated in a mature residential area near local parks and transit, ensuring low vacancy rates and a steady tenant pool from the local workforce.
Based on a 20% down payment of $145,000 and a 5.5% interest rate on a 25-year amortization, the monthly mortgage payment is approximately $3,538. With estimated market rents of $1,400 per unit for a total of $5,600 per month, the property generates a significant gross surplus. After accounting for estimated property taxes of $725 per month and other operating expenses, the asset is positioned to deliver strong positive cash flow from day one.
The Lethbridge market has demonstrated impressive resilience, boasting a 25% 5-year historical appreciation rate and a steady 5% growth over the last year. As larger centers like Calgary and Edmonton become increasingly expensive, Lethbridge continues to attract both residents and investors seeking affordability. This sustained demand supports long-term capital growth for multi-unit properties in established neighborhoods.
The core thesis for this property is 'yield through scale.' Unlike single-family suited homes, a 4-plex offers superior operational efficiency and risk mitigation; a single vacancy only impacts a fraction of the gross income. The sub-$200,000 per door price point is increasingly rare in the Western Canadian market, making this a high-value acquisition for investors focused on long-term wealth accumulation.
Key risks include potential capital expenditures associated with multi-family structures and the management intensity of a four-unit building. Investors should conduct a thorough inspection of the roof, building envelope, and mechanical systems to ensure no deferred maintenance exists. Suite/zoning status to be independently verified with the municipality to ensure full compliance with local bylaws.
Our Take: Decent Deal — Worth Analyzing Further
This property cash flows positively at $15/month, but the margin is slim. Run your own numbers in our calculator — small changes to rent or expenses could tip it either way.
Run Your Own Numbers
These figures use standard assumptions. Your actual results depend on your financing, local rates, and management costs. Use our free calculator to model this exact deal with your own inputs.
Calculation Assumptions
- • Monthly rent: $5,600/mo (market estimate)
- • Down payment: 20% of purchase price
- • Mortgage rate: 5.5% annually, 25-year amortization
- • Property tax: $8,700/year (~1.2% estimate)
- • Property management: 8% of monthly rent
- • Maintenance: 2.5% of monthly rent
- • Insurance: 5% of annual rent
- • Repairs: $150/month
- • Vacancy: 5% of monthly rent
- • Closing costs: ~3% of purchase price (not included in cash flow)
🤖 AI-Generated Content: This market spotlight was researched and written by an AI using live web data. Property details, rental figures, and financial calculations may not be exact and could contain errors or inaccuracies.
⚠️ All listing details, rental estimates, suite/zoning status, and financial calculations must be independently verified before making any investment decision. This content is for educational purposes only and does not constitute investment advice. Always consult a qualified real estate professional, mortgage broker, and financial advisor.
