Braeman Place – Cold Lake, AB

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Welcome to Braeman Place, Cold Lake.

This lakeview three-storey walk up has been impeccably managed,upgraded, and maintained by its owners for the last 12 years. A prime location just steps to Kinosso Beach, and only a couple of blocks from the largest inland marina in Canada, makes Braeman Place not only a great investment but also the #1 location in Cold Lake. 27 investment suites are available in a variety of sizes and layouts.

Exterior #4


Type

Size

Purchase Price

Down Payment

Rent

1 bedroom 620 – 640 sq ft $162,900 – $172,900 $41,225 $1,575
2 bedroom 732 – 810 sq ft $214,900 – $224,900 $55,725 $2,025
3 bedroom 861 – 1,184 sq ft $255,900 – $279,900 $64,475 $2,450

The Property

Originally built as a condominium in 1985, Braeman Place was kept is as a rental property due to market conditions at that time. Because the property was originally intended for condominium sale, superior attention was given to the design of each unit, including in-suite laundry rough-ins.

The building is a three-storey walk-up with nine suites on each floor and common coin-operated laundry on each floor.  The unit mix in the building consists of seven one-bedrooms , nine two-bedroom, and 11 three-bedroom units. Unit sizes range from 620 square feet to 1,184 square feet.

Living Room
In the basement is an approximately 500 square foot area with a bathroom, small office, and a future gym for the personal use of tenants and owner/occupiers in the building. The developer has purchased all training equipment which will become part of the common interest of all owners in the building.

The property is located one block from the main public use beach known as Kinosso Beach. From May to October locals and tourists flock to this location for their personal use and enjoyment. In the winter months avid ice fishing enthusiasts can be seen from Braeman Place. In our iscussions with local investors, real estate companies, property management companies, this property is one of the most desirable and sought after locations in Cold Lake for tenancy and home ownership.

See Building Reports

Acquisition Summary

The first year contribution out of strata/condo fees will be $21,000. The developer will be contributing a total of $121,500 ($4,500 per unit) out of each sale to the contingency reserve fund.

See Condo Reserve Fund Report

Property Management

Coldwell Banker Home Team Realty – Property Management Division, locally owned & operated In Cold Lake, Alberta.

CBHTR-Property Management Division, property management and real estate brokerage was founded in 2009. The property management team provides quality professional management and leasing services to individual owners, investors, and commercial developments, as well as professional real estate services in both the residential and commercial sectors.

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Our company is a member of the Cold Lake Chamber of Commerce and the Edmonton Real Estate Board.

Founder Bernard Lefebvre was born and raised in Cold Lake. He is committed to carrying on the well-respected Lefebvre name and proud of being a member of a family of whom was one of the first settlers to the Cold Lake area. Bernard specializes in residential, commercial, development, and investment properties in the Cold Lake Area. As an Advisor to the Economic Development Advisor Board for the City of Cold Lake and a Director for the Northern Eastern Alberta REALTORS® Association and a Director of the Alberta Real Estate Association, Bernard is totally committed to the highest levels of client and customer service satisfaction.

Our Leasing & Property Management Agent is Chris Moskalyk, a licensed realtor in Alberta with over 20 years of property management & real estate experience.

See the Property Management website

Why Choosing Braeman Place is a Good Move

  • 3rd Best Real Estate Investment City in Canada – April 2013 Canadian Real Estate Wealth Magazine
  • Booming Oil Industry
  • As oil sands output rises, Cold Lake struggles to keep up
  • Shortage of short and long term housing needs – rising rental costs
  • Limited New Builds to support shortage of housing
  • Ranked as #1 Province in Canada for economic Growth – Stats Can
  • 15% cash on cash returns
  • Little or no condos for sale on MLS – Potential for faster appreciation!

Finding Braeman Place

Aerial View Close - Braeman Place



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Purchasing Process

Please ask me for the details about purchasing an investment condo at Braeman Place.
Trevor Redfern
604.889.2950

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