11818 37 Street · Multi-family

11818 37 Street is a 3-unit multi-family in Edmonton, AB, asking $1,990,000 — $663,333 per door.

That sits above the Edmonton band of $145k - $245k per door. A price above the band has to be earned by rents, condition, or upside that the listing has not yet shown. Edmonton cap rates screen 5.8% - 7.5% against average rent near $1,650 a door.

At 3 units this finances as residential, not commercial — MLI Select starts at five units. The qualifying rate still applies: federally regulated lenders test a 1–4 unit rental at the greater of your contract rate plus two points or 5.25%.

Edmonton offers low basis and yield, but vacancy, liquidity, and renovation execution deserve extra attention. Investor demand reads medium, vacancy improving.