5917 51 Avenue

This two-storey, six-unit low-rise apartment at 5917 51 Avenue in Riverside Meadows, Red Deer, was built in 2018 and is certified for assisted living use. The building comprises two three-bedroom units and four one-bedroom units, with individual mechanical and laundry rooms in each. Currently leased to an operator, the property represents an income-generating opportunity. A recent sale in this building was priced around $1.2 million. Before finalizing a purchase, obtain and review the condo declaration, reserve fund study, board minutes, current lease agreement and financial statements to understand the building's operational model, financial health and any planned capital expenditures.