Property Description

This RM5-zoned land assembly is centrally located in the sought after City Park neighbourhood and just minutes from; downtown CBD, multiple restaurants, shops, and services, Saskatoon City Hospital, and the South Saskatchewan River and Meewasin trails. Current zoning allows for high-density residential development in one of the most rentable areas in the city. There are three long-term tenants in place with below market rents in the residential rental properties, with the vendor being open to a leaseback in the converted office building.

AVAILABLE FOR SALE
0.42 acres

ASKING PRICE
$1,950,000

NET OPERATING INCOME
Approx. $90,000 potential

PROPERTY DETAILS
• Four adjacent, mature buildings totaling 143’ frontage by 130’ deep
• 517 4th Avenue
  – 1,600 SF single-tenant office building with five private offices, boardroom, kitchenette, 6 on-site parking stalls and single detached garage
  – Owner would consider a leaseback
• 521, 523 and 525 4th Avenue
  – Currently rented with long-term residential occupants at below market rents
  – Very clean and well-maintained properties

PROPERTY TAXES (2022)
517 4th Ave N: $4,504.22
521 4th Ave N: $2,524.28
523 4th Ave N: $3,574.90
525 4th Ave N: $3,814.50

LEGAL DESCRIPTION
Surface Parcels 121016157, 121016146, 121016135, 121016180

ZONING
RM5 – allows for high density residential development up to 150’ building height

517-525 4th Ave N, Saskatoon, SK

Investment For Sale

0.42 Acre
$1,950,000
Listing ID #2704
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