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For sale
  • C$725,000

    4718 College Ave, Lacombe, AB T4L 1Z1

    --beds
    --baths
    3,527sqft
    Quadruplex
    Built in 1971
    -- sqft lot
    $-- Zestimate®
    C$206/sqft
    C$-- HOA

    What's special

    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 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.
    89 days
    on Zillow
    |
    6
    |
    0
    |

    Zillow last checked: 7 hours ago

    Listing updated: 21 hours ago

    Listed by:

    Tammy Polley, Associate,

    Re/Max Real Estate Central Alberta,

    Erin Wilkinson, Associate,

    Re/Max Real Estate Central Alberta

    Source: courtesy of Pillar9 System,MLS®#: A2213994MLS LogoOriginating MLS®#: Central Alberta
    Travel times

    Facts & features

    Interior

    Heating
    • Forced Air, Hot Water, Varies by Unit
    Appliances
    • Included: Garage Control(s), Refrigerator, Stove(s), Washer/Dryer
    Features
    • Ceiling Fan(s), Storage
    • Flooring: Carpet, Linoleum, Tile
    • Basement: Partial
    • Number of fireplaces: 1
    • Fireplace features: Gas, Living Room
    Interior area
    • Total interior livable area: 3,527 sqft

    Property

    Parking
    • Total spaces: 5
    • Parking features: Double Garage Detached, RV Garage, Single Garage Attached
    • Attached garage spaces: 5
    Features
    • Levels: 2 Storey
    • Stories: 1
    Lot
    • Features: Landscaped
    Details
    • Parcel number: 93812139
    • Zoning: R4

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Quadruplex
    Materials
    • Vinyl Siding
    • Foundation: Concrete Perimeter
    • Roof: Asphalt Shingle
    Condition
    • Year built: 1971

    Community & HOA

    Community
    • Features: Playground, Street Lights
    • Subdivision: College Heights
    Location
    • Region: Lacombe

    Financial & listing details

    • Price per square foot: C$206/sqft
    • Date on market: 5/9/2025
    • Inclusions: Refrigerator (x4), Stive (x4), Washer (x2), Dryer (x2), Garage Controls (x3) Garage Remotes (x4), Shed
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