Alderwood Place

Elkford is closely tied to the regional mining economy, with employment largely supported by mining operations alongside service and contractor industries that serve the broader Elk Valley. The community is also characterized by strong, above-average household incomes, driven primarily by well-paying mining employment. Housing supply remains limited, with consistently high occupancy levels and structural constraints on new development, which continues to support tight rental fundamentals and durable cash-flow potential. Beyond its employment base, Elkford benefits from its Rocky Mountain setting, offering year round outdoor recreation including hiking, skiing, fishing, snowmobiling, and horseback riding. This enhances livability and contributes to regional appeal and long-term stability. Overall, Elkford represents a stable, income-oriented multifamily market supported by strong employment fundamentals, constrained housing supply, and resilient long-term demand drivers.Alderwood Place is a well-maintained 60-unit multifamily property in Elkford situated on a substantial 2.84-acre (123,710-square-foot) site zoned Comprehensive Development Residential, the property comprises two 30- unit, three-storey wood-frame apartment buildings constructed in 1981. The property’s scale, attractive suite mix, and extensive site area make it one of the larger purpose-built rental assets within the Elk Valley region. The property offers a balanced suite mix consisting of 6 one-bedroom units, 48 two-bedroom units, and 6 three-bedroom units, catering to a broad range of tenants including individuals, couples, and families. Alderwood Place benefits from a range of tenant-focused amenities, including covered parking structures equipped with electrical plug-ins, shared laundry facilities featuring four washers and four dryers in each building, and the Alderwood sauna room. The property has benefited from ongoing ownership stewardship and a comprehensive program of capital improvements. Significant recent upgrades include the installation of new three-ply torch-on roofing systems on both buildings in 2020, replacement of numerous hot water tanks, carport upgrades, garbage system improvements, stucco and building-envelope restoration, access ramp paving and fire alarm system upgrades. In addition to building-wide improvements, ownership has completed multiple full-suite renovations and turnover upgrades across both buildings. Approximately 10 or more units have been improved through flooring replacements, interior painting, and general suite modernization.