This exceptional and fully tenanted 4-plex is ideally located just steps from the university in one of Lacombe’s most desirable neighborhoods. With a solid rental history, thoughtful updates, and a unique layout, this property offers incredible flexibility—whether you’re a seasoned investor looking for strong cash flow or a young family hoping to offset homeownership costs with rental income.
Unit 1, the standout of the complex, is a spacious 3-bedroom, 2.5-bathroom home featuring an attached single garage, gas fireplace, large mud/laundry room with sink, jacuzzi tub, and updated carpet. Perfect for an owner-occupier, this unit provides the comfort and amenities of a single-family home with the added bonus of rental income from the three additional suites.
Units 2, 3, and 4 offer a mix of functional layouts, including loft-style bedrooms and open floorplans, with shared access to a laundry area and large storage room. Updates include newer windows, modernized bathrooms, and forced-air or hot water baseboard heating. Unit 3 has new carpet in living room and primary bedroom. Unit 4 also includes its own attached garage and units 2 and 3 share the double car detached garage.
Additional revenue comes from a separately rented motorhome garage. The building has been well cared for, with new siding and shingles completed approx. 7 years ago and updated electrical in the detached garage just two years ago.
With all units currently rented, this property is a rare opportunity to own a high-performing asset with lifestyle flexibility. Whether you’re investing or looking to live in your investment—this 4-plex delivers.
Address
4718 College Avenue
List Price
$669,000
Property Type
Multi-Family
Type of Dwelling
4 plex
Style of Home
2 Storey
Transaction Type
Sale
Area
Lacombe
Sub-Area
College Heights
Floor Area
3,527 Sq. Ft.
Year Built
1971
MLS® Number
A2213994
Listing Brokerage
RE/MAX real estate central alberta
Basement Area
Partial
Postal Code
T4L 1Z1
Zoning
R4
Site Influences
Landscaped, Schools Nearby, Walking/Bike Paths, Playground, Street Lights
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