About 4718 College Avenue
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.
Features of 4718 College Avenue
| MLS® # | A2213994 |
|---|---|
| Price | $669,000 |
| Bathrooms | 0.00 |
| Square Footage | 3,527 |
| Acres | 0.00 |
| Year Built | 1971 |
| Type | Multi-Family |
| Sub-Type | 4 plex |
| Style | 2 Storey |
| Status | Active |
Community Information
| Address | 4718 College Avenue |
|---|---|
| Subdivision | College Heights |
| City | Lacombe |
| County | Lacombe |
| Province | Alberta |
| Postal Code | T4L 1Z1 |
Amenities
| Parking Spaces | 5 |
|---|---|
| Parking | Double Garage Detached, RV Garage, Single Garage Attached |
| # of Garages | 5 |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Ceiling Fan(s), Storage |
|---|---|
| Appliances | Refrigerator, Washer/Dryer, Garage Control(s), Stove(s) |
| Heating | Forced Air, Hot Water, Varies by Unit |
| Fireplace | Yes |
| # of Fireplaces | 1 |
| Fireplaces | Gas, Living Room |
| Has Basement | Yes |
| Basement | Partial |
Exterior
| Lot Description | Landscaped |
|---|---|
| Roof | Asphalt Shingle |
| Construction | Vinyl Siding |
| Foundation | Poured Concrete |
Additional Information
| Date Listed | May 9th, 2025 |
|---|---|
| Days on Market | 172 |
| Zoning | R4 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | RE/MAX real estate central alberta |
|---|