42 Onaway Avenue Red Deer, AB T4P 2S5

7.7% CAP Rate in Oriole Park! $73,920/YR IN GROSS RENTS! You won't find a better performing 4-plex available in Red Deer! 42 Onaway Ave offers reliable income and growth potential in Red Deer’s thriving rental market. All units are 3 bedroom 1.5 bath. The units are laid out nicely, each one a bi-level that features 1 bedroom, a 2-piece bath, kitchen, living, and dining areas upstairs, plus 2 bedrooms, a 4-piece bath, and laundry downstairs. All units include private balconies off the dining area. Recent updates include a heavily renovated Unit C (see photos) and a 2016 asphalt shingle roof with lots of life remaining. Balconies have been well maintained, and each unit is individually metered for electricity, keeping owner costs low. The property has a private rear parking area with powered stalls, plus additional street parking. Ideally located across from a park and minutes from schools, shopping, downtown, and major highways, this turn-key property benefits from consistent tenancy and Red Deer’s growing appeal for its strong job market and affordability. Don’t miss this opportunity to invest in a high-performing, hassle-free asset!