19-Townhome InvestmentGlenora, Edmonton
19 new Qualico-built townhomes in Glenora, where barely 1 in 5 homes is a rental.
- CMHC MLI Select qualified — 95% LTV, 50-year amortization
- $3,138/month cash flow — 1.13x DSCR, 211.9% projected 3-year return
- 19 townhomes, 9 with attached garages — $36,700/month gross revenue
- Glenora median household income of $126,572, 43.8% above the Edmonton median
Purchase Price
$5,900,000
Annual Revenue
$440,400
Why This Project Is Different
Nineteen purpose-built townhomes from Streetside Developments, Qualico's 75-year-old multifamily arm, on a 15,404 sq ft corner infill site in one of Edmonton's most established neighbourhoods. This is a rare chance for a private investor to buy new rental product in Glenora at $321,053 per door.
Two Buildings, Two Tenant Profiles
A 9-unit NERO II building and a 10-unit MILA building give you two rent tiers in one asset. NERO II captures the professional who wants a garage. MILA captures families and the affordable segment that anchors your MLI Select points.
NERO II & MILA Models
NERO II is a 908 sq ft 2 bed / 1.5 bath with an attached single garage, driveway and balcony, which is rare in Edmonton rental stock. MILA is an 826 sq ft 2 bed / 1.5 bath with a full basement. Five are modelled at 1,174 sq ft as 3 bed / 2.5 bath with developed basements, and five are held as affordable 2-beds.
Two-Storey, Private-Entrance Living
Every unit has its own front door, a vertical layout and in-suite laundry. There are no shared hallways and no condo board. Units are separately metered, so utilities are tenant-paid from day one.
Q4 2026 Completion, You Control Lease-Up
The vendor provides at least 60 days after condition removal for you to pre-lease before closing. You set real market rents and place tenants before your first mortgage payment, and CMHC underwrites a brand-new asset with minimal near-term capital expenditure.
$3,138/mo
Net Monthly Cashflow
19 Townhomes
2 & 3 Bed / 1.5–2.5 Bath | 9 NERO II · 5 MILA 3-Bed · 5 MILA Affordable 2-Bed
$440,400 Annual Revenue
9 attached garages included in NERO II rents
Investment Performance
Key financial metrics that matter to investors
DSCR
1.13
Debt Service Coverage Ratio
Monthly Cashflow
$3,138
Positive cash flow from day one
3-Year ROI
211.9%
Projected total return on cash invested
Cap Rate
5.60%
Estimated annual capitalization
These numbers are subject to change based on market conditions and financing terms.
Architectural Design
19-unit townhome complex
Contemporary Aesthetics
Wood-frame construction with crisp white siding, private balconies and fully landscaped grounds at completion
Energy Efficient Build
Built to modern Alberta building code standards
Spacious Layouts
908 sq ft (NERO II) / 826–1,174 sq ft (MILA) — 2 & 3 bed / 1.5–2.5 bath
NERO II: 908 sq ft · MILA: 826 sq ft above grade + basement · MILA developed: 1,174 sq ft
Prime Location
Glenora, Edmonton
14035 & 14039 106 Avenue NW
Mature, tree-lined Glenora sits at the edge of the North Saskatchewan River Valley and MacKinnon Ravine, minutes west of downtown.
Minutes West of Downtown
Downtown Edmonton approx. 6 km
Retail at the Door
630,000+ sq ft of retail at West Block, Westmount Centre and Jasper Gates Plaza within walking distance
Supply-Starved Sub-Market
Only 21.3% of Glenora homes are rentals
Strategic Glenora Location
The Glenora renter earns well: median household income is $126,572, 43.8% above Edmonton. They rent because buying a detached home here starts near $700,000. Yet only 21.3% of Glenora dwellings are rentals, so new two-storey townhomes with private entrances and attached garages have almost no direct competition in the neighbourhood. With crime roughly 60% below the Edmonton average, MacKinnon Ravine and the river valley at the door, and the Valley Line West Grovenor/142 Street stop under construction nearby (2028 target completion), demand here is structural, not speculative. Edmonton's 2025 purpose-built vacancy of 3.8% means older, generic stock is offering free months. Glenora's scarcity and new Qualico construction put this asset in the group that leases first, protecting the investor's biggest risk and supporting a long MLI Select hold.
Property Breakdown
19 thoughtfully designed townhomes maximizing rental income in Glenora.
NERO II Townhome
9 units @ $2,050/mo
MILA Townhome w/ Developed Basement
5 units @ $2,000/mo
MILA Affordable Townhome
5 units @ $1,650/mo
Parking (9 attached garages)
Included in NERO II rents
Total Monthly Revenue
$36,700
Annual Gross Revenue
$440,400
Investor Requirements
Standard qualifications needed to secure this investment opportunity
Cash Required
$415,250
Total investment to close
Down payment + lender fee + closing costs
Net Worth Req'd
$1,475,000
Assets less liabilities
25% of purchase price ($5.9M)
Liquidity Req'd
$590,000
Cash, savings, LOC, stocks, etc
10% of purchase price ($5.9M)
Ready to Qualify?
If you meet these requirements, you're well-positioned to secure financing for this exceptional investment opportunity. The property is fully pre-qualified with CMHC MLI Select financing, making the approval process streamlined and efficient.
DSCR
1.13
Loan-to-Value
95%
Interest Rate
4.40%
Investment Analysis
Long-term wealth building with exceptional returns
Financing Highlights
- CMHC MLI Select pre-qualified
- 95% Loan-to-Value financing
- 50-year amortization period
- 4.40% interest rate (estimated)
- $415,250 total investment required
Down Payment (5%)
$295,000
Mortgage Broker Fee (1.00%)
$59,000
Lender Fee (0.75%)
$44,250
Closing Costs
CMHC screening $1,500 + appraisal & environmental $5,500 + legal $10,000
$17,000
Total Investment
$415,250
Exceptional Cash Flow
$3,138/moA 1.13x DSCR clears CMHC's 1.10x minimum on a conservative 4.40% rate, with rents growing 2.5% a year in the model.
211.9% ROI at Year 3
Year 3 ROIBuilt-in equity from day one with a $5.9M purchase, plus compounding appreciation and rental growth.
19 Purpose-Built Townhomes
826–1,174 sqft/unitTwo-storey layouts with private entrances, and nine with attached garages. This draws long-staying professionals and families, not short-term apartment renters.
Glenora Scarcity
21.3% RentalsWith only 21.3% of Glenora homes rented and households earning a median $126,572, new townhomes here lease to established professionals and families who can't find this product anywhere else in the neighbourhood.
Ready to Secure This Investment?
A rare MLI Select opportunity in Glenora. With $3,138/month cashflow and 211.9% projected 3-year ROI, this property won't last long.