Contacts
Avison Young
Avison Young
Avison Young
Avison Young
Property Details
- Property Type Other
- Units 83
- Additional Rent Contact for pricing
- Date Updated Dec 14, 2024
The Property is located in the Castledowns area in
North Edmonton. Surrounded primarily by single family homes, it is less than 2 kilometers from the Pembina retail node, which includes Palisades Shopping Centre, North City Centre, and Skyview Centre, totaling over 1.25 million SF of commercial space. The increasing demand for new multifamily products in the Northwest region continues to compress vacancy to a historical market low. Currently, Edmonton’s Northwest submarket has limited rental product. As demand continues to outpace new rental supply, vacancy rates have decreased by 1.0% from Q4 2022 to Q4 2023 in the Castledowns region. Demand and value for affordable rental products are expected to increase as new migrants continue to enter Edmonton, putting upward pressure on rental rates. In Q4 2023, the Northwest experienced the largest quarterly rental rate increase at 8% to $1.95 PSF.
Reach out to the broker for more info on lease terms and amenities
Highlights
- Castledowns is revered as one of the strongest rental markets in Edmonton. Few areas present a greater gap of updated/renovated apartment options.
- The Property has little competition as few apartment complexes were constructed in the 1990s and 2000s.
- The best use of the site is utilizing the existing apartment project. However, the site totals 2.15 acres of DC2 land, which provides a reasonable starting point for future development
- At list price the cost per square foot is $230, far below the current cost of new multifamily construction (roughly $310/SF).
Getting around
-
64/100
Walk Score ®
-
43/100
Transit Score ®
-
59/100
Bike Score ®
Location
- City Edmonton, AB
- Neighborhood Baranow
- Postal Code 562
Points of Interest
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Edmonton
2.59 miles
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Blatchford Gate
2.96 miles
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Blatchford Gate station
2.96 miles
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NAIT/Blatchford Market
3.61 miles
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Kingsway/Royal Alex
4.33 miles
-
Belvedere
4.79 miles
-
Churchill
5.35 miles
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102 Street
5.37 miles
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Corona
5.41 miles
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Jasper Plaza
5.44 miles
-
Petro-Canada
0.04 miles
-
Shell
0.08 miles
-
Your Spot
0.49 miles
-
7-Eleven
0.85 miles
-
Co-op
0.94 miles
-
Mobil
1.12 miles
-
FreshCo
1.13 miles
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Elfasdi's Gas
1.58 miles
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Edmonton Public Library
1.77 miles
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FLO
6.87 miles
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No Frills Parking Lot
2.03 miles
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Eaux Claires Park and Ride
2.13 miles
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OEM Remanufacturing parking lot
2.49 miles
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Police Seized Vehicle Storage Lot
2.57 miles
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O'Leary Parking Lot
3.12 miles
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Glengarry Arena Parking
3.18 miles
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A/B Parkade
3.40 miles
-
M Parkade
3.59 miles
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Kilkenny Community League Carpark
3.73 miles
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Alberta Motor Association
3.92 miles
-
etoys house
1.09 miles
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Hampton Inn & Suites
1.90 miles
-
Fairfield Inn & Suites
2.17 miles
-
Rosslyn Inn & Suites
2.30 miles
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Chateau Nova
2.48 miles
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Sleep Inn
3.25 miles
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Chateau Nova Hotel & Suites
3.25 miles
-
Edmonton Inn
3.33 miles
-
Ramada
3.35 miles
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Chateau Louis
3.50 miles
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Save-On-Foods
0.14 miles
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Lucky Supermarket
0.99 miles
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Real Canadian Superstore
1.01 miles
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Bulk Barn
1.02 miles
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Sobeys
1.05 miles
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FreshCo
1.09 miles
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Walmart Supercentre
1.09 miles
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Saks Off 5th
1.24 miles
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Elfasdi's
1.57 miles
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H&W Produce
1.58 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
