$475,000

1501 16 Avenue S

Agnes Davidson, Lethbridge

• 1,675 sq ft

About this home

1501 16 Avenue S could be your next multi-family investment sits on a 68' X 120' lot, making it perfect for a future 4-plex! This is a FULL DUPLEX in an amazing South Lethbridge location with a bus stop ON the property!It offers TWO complete, single level homes in one sale. Each unit features two bedrooms, a four piece bathroom, a kitchen, a comfortable living area, and its own laundry. The West unit includes a pantry and the East unit includes a walk-in closet in the primary bedroom.The property is sheltered by beautiful and healthy mature trees. The entire property has a welcoming and sheltered feel, saving you from the blazing summer sun, while you enjoy sprawling yard space. You or your tenants are just minutes away from the coulees, dog park, and Scenic Drive for an easy commute anywhere in the city. Each unit has off street parking for one vehicle each in their own individual driveways, both off of 16 Ave S. In the rear there is 3 more off-alley parking spots, with plenty of on-street parking on 15th St S. Don't forget there's a 30' X 30' heated triple car garage with epoxy floor ($100,000 to $125,000 replacement value). It has no windows for added safety and security. While it is currently unrented (and owner occupied), multiple requests have been made to rent it for $600 per month.Each unit rents for $1,375 per month. Presuming you rent the garage for $600/mo the property would generate over $40k per year! That's more than an 8% CAP RATE! Whether you’re expanding your investment portfolio or considering a home where you could live in one unit and rent the other, this duplex is DEFINITELY worth a closer look. (id:67770)

Facts

Living area

1,675 sq ft

Home type

Multi-Family

Year built

1941

Lot size

8,172 square feet

Parking

5

Property taxes

$3,413 (2026)

MLS® number

A2337987

Features

Heating

Forced air, Gravity Heat System

Cooling

None

Basement

Unfinished, Crawl space

Flooring

Laminate, Carpeted, Ceramic Tile

Appliances

Refrigerator, Stove, Washer & Dryer

Parking

Detached Garage, Garage, Parking Pad, Other, Oversize, Concrete, Heated Garage

Exterior Features

Stucco

Location

Listed by eXp Realty of Canada

Listing data is supplied by the CREA Data Distribution Facility (DDF®). It is deemed reliable but not guaranteed and should be independently verified. It is provided for consumers’ personal, non-commercial use to identify properties they may be interested in purchasing.