Downtown, Peace River · MLS® A2264118
37
31,185 sq ft · Condo · Multi-family · built 1984 · 376 days on market
listed by Andy Gauvreau, Century 21 Town and Country Realty
Now available is a mixed use building with 27 titled units , 4 commercial spaces and 29 underground titled parking stalls all owned and controlled by one entity. There are 12 - 1 bed units and 10 - 2 bed units and 4 bachelor suites There are 4 commercial spaces on the main floor with 3 currently leased to professional corporations, one an engineering firm, a spa business and a medical clinic, with a total rent of $5280 per month between the two commercial tenants - the remaining space is about 1900 sq ft approx and the commercial rents are all inclusive rents. The building is self managed by the owner and they have been managing it for 20 years.. This property is located in the down town area of Peace River and is within walking distance to all the amenities needed with a secure and heated underground parking available for tenants if desired - this is one of the few buildings in this municipality with secure underground parking. There is revenue from parking, laundry, commercial rents and residential rents with a very good return. In addition there is a small lot that supplies overflow parking off street for about 8-10 vehicles - great for visitors or additional vehicles. This is been sold with all units under one titled owner as of Nov 1 2026
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing.
Costs: mortgage $8,713 · tax $3,261 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent is today's market rent for a studio in Alberta: CMHC's average there ($1,185) raised by what new tenants pay against everyone in the province (Alberta centres of 10,000+). (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant).) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.
Alberta has no cap on how much rent can rise, but only one increase a year, with three months' written notice for a monthly tenancy. alberta.ca
about $26,937 a year
The asking price times Peace River's 2026 residential rate of 13.47 per $1,000 (municipal and education).
The listing shows $39,128 a year in property tax.
Estimate from Alberta Municipal Affairs mill rates. Leaves out local improvement levies and utilities; the municipality's tax notice is the real figure. Without the city's assessment this uses the asking price, so it's a rough guide.
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Walkability 82/100 · Very walkable: most errands on foot
Within a 10 minute walk: 1 grocery store, 9 places to eat or drink, 1 cafe, 9 parks and playgrounds, 2 pharmacies.
mihom score from OpenStreetMap places, by straight line distance.