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.
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
- 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®#: A2213994
Originating 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
Video & virtual tour
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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