Edmonton fourplex and multiplex cap rates
Fourplex and multiplex · Edmonton, AB · cap rates 5.8% - 7.5% · vacancy 3.0%
Edmonton offers low basis and yield, but vacancy, liquidity, and renovation execution deserve extra attention.
Sources: CMHC Rental Market Survey (October 2024) · Statistics Canada CMA population · Realtor.ca — 122 active listings · Bank of Canada posted rates. Figures are computed estimates — verify before acting.
- Average rent
- $1,422
- CMHC purpose-built · October 2024
- Cap rate range
- 5.8% - 7.5%
- Editorial benchmark
- Price per door
- $145k - $245k
- Editorial benchmark
- CMA population
- 1,692,385
- +3.1% YoY · StatCan 2025
- Vacancy rate
- 3.0%
- CMHC RMS · October 2024
- Rent rules
- Low
- Low regulation risk
Market screen
AssetAvenue analysis
Edmonton cap rates screen 5.8% - 7.5%, $145k - $245k per door, with average rent near $1,650 a door. The desk underwrites vacancy at 4% - 6% and operating expenses at 35% - 45% of gross rent.
Scores
Location score
98/100Composite of demand, vacancy risk, regulation, affordability pressure, and zoning.
First-time investor score
88/100Debt coverage and cash-on-cash at the market's benchmark leverage, plus landlord-regulation and market risk.
Developer score
61/100Zoning, affordability pressure, and investor demand.
What to verify on a deal here
- Rent: in-place leases against the $1,350 - $1,950 benchmark.
- Financing: a lender term sheet at the contract rate, re-tested at the qualifying rate.
- Operating: expenses against the 35% - 45% ratio, with local insurance and tax quotes.
- Closing: provincial transfer tax, legal, lender, and diligence costs.
Market data
Bedroom rents from CMHC RMS (October 2024). Neighbourhood scores and rents are editorial estimates.
Rent by bedroom type
CMHC purpose-built avg · October 2024
Neighbourhood scores
Editorial market score by area
Neighbourhood rents
Editorial estimate · average rent per unit
Neighbourhood intelligence
The desk's read of each area. Rents are editorial estimates, not survey data.
Old Strathcona
$1,750 avg rent · high demand
Best fit: Value-add multifamily
Apartment zones and infill
Oliver
$1,680 avg rent · medium demand
Best fit: Apartment hold
Central apartment stock
Mill Woods
$1,575 avg rent · medium demand
Best fit: Family rentals
Suburban suites
Provincial investor rules
- Province
- Alberta
- Rent regulation
- Low
Transfer costs: No provincial land transfer tax; registration fees still apply
Zoning and open data: Municipal land-use bylaw, district rules, parking, amenity, and discretionary-use context.
Investor watchouts
- Energy-market cyclicality
- Insurance and utility quotes
- Vacancy and turnover sensitivity
Underwriting benchmarks
- Rent range
- $1,237 – $1,701
- CMHC RMS · October 2024
- Cap rate range
- 5.8% - 7.5%
- Editorial benchmark
- Price per door
- $145k - $245k
- Editorial benchmark
- Vacancy assumption
- 3.0%
- CMHC October 2024
- Expense ratio
- 35% - 45%
- Rent rules
- Low
- CMHC 1BR rent
- $1,237
- October 2024
- CMHC 2BR rent
- $1,529
- October 2024
Financing sensitivity: Higher yield helps, but vacancy shocks should be modeled. Data sourcing: hover any icon above for methodology. Rent and vacancy from CMHC RMS. Remaining benchmarks are editorial estimates. Always confirm with property-level diligence.
Signals affecting Edmonton
Opportunities in Edmonton
122 active listings on Realtor.ca · 6 screened in AssetAvenue
Edmonton underwriting questions
- What cap rate should I expect on an Edmonton fourplex?
- Current screen: 5.8% - 7.5%. Editorial benchmark until live listings fill this market. A fourplex is conventional financing — MLI Select starts at five units. Confirm NOI from the rent roll; street and condition move the print.
- How tight is vacancy in Edmonton?
- CMHC purpose-built vacancy is 3.0% as of October 2024. Small multifamily can run tighter or looser than the metro survey.
- What strategies fit Edmonton?
- BRRRR, Value-add, Small multifamily, CMHC/MLI Select. Rent rules: Low.
- Does AssetAvenue cover Canadian income property in Edmonton?
- Yes. This desk underwrites Edmonton, AB income property at the qualifying rate, with CMHC and Bank of Canada context where we have it.