Downtown, Sylvan Lake · MLS® A2349264
744
2,009 sq ft · 11,250 sq ft lot · Townhouse · Single Family · built 1977 · 25 days on market
listed by Cindy Price, Realty Executives Alberta Elite
4-Plex in the Heart of Sylvan Lake sitting on 3 lots and bringing in and amazing 8% CAP Rate!!! Amazing Investment Opportunity 3 - 2 Bedroom Units that are 931 square feet, 909 square feet and 861 Square feet plus a 1 bedroom lower level unit which is 642 square feet! All Units are in very good condition with newer kitchens and appliances and all have in unit storage! Front and Back Entrances, a ton of parking, Laundry Room with 1 Commercial Washer and Dryer, additional storage area, which could convert the 1 Bedroom lower level unit to a 2 bedroom unit. Roof is 30 Year Architectural Shingles which are believed to be 15 years old. HWT was replaced last year! Balconies were just rebuilt and painted, Front and Back Entrances have new Vinyl Plank Flooring, New Paint in Back Entrance. Excellent Investment Opportunity!
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing.
Costs: mortgage $2,875 · tax $385 · insurance ~$175 · vacancy 3% · upkeep 5%.
Rent is today's market rent for a 3+ bedroom in Sylvan Lake: CMHC's average there ($1,505) 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
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about $6,598 a year
The asking price times Sylvan Lake's 2026 residential rate of 10.00 per $1,000 (municipal and education).
The listing shows $4,619 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.
Walkability 76/100 · Walkable: many errands on foot
Within a 10 minute walk: 7 places to eat or drink, 1 cafe, 10 parks and playgrounds, 2 schools, 1 pharmacy.
mihom score from OpenStreetMap places, by straight line distance.