12 - 5326 50 Avenue

This 12-suite low-rise apartment building at 5326 50 Avenue in Downtown Lacombe was constructed in 1981 and consists primarily of two-bedroom, one-bath units plus one bachelor suite. The building is fully occupied with strong tenant retention; recent sales averaged $1,380,000. Condo fees are kept competitive as the owner covers heat, water, sewer, and garbage while tenants pay utilities. The building has received recent capital updates including a newer roof, furnace, hot water tank, and boiler motors. Before purchasing a residential investment property in Alberta, prospective buyers should have the condo corporation's reserve fund study, financial statements, board minutes, and insurance documentation professionally reviewed to confirm adequacy of reserves and compliance with building governance.