What are the roughest neighbourhoods in Edmonton for real estate investors?
I’ve been wanting to write this article for quite some time now, but wasn’t completely sure how to frame it. Not so much as a warning to investors to stay away from these Edmonton neighbourhoods, but more as an eye opener to investors who would typically shy away from these “rougher” areas. Don’t overlook these tougher areas as they present huge opportunities!!
We personally invest in the lower income areas of Edmonton, as the returns tend to be slightly higher. Prices are generally lower, and rents are typically very similar to the “good” neighborhoods, if not only slightly lower. The only tradeoff is that you have to be very, very careful with your tenant selection, and your property manager has to be very good to vet them.
Here is a list of the worst Edmonton neighbourhoods, in no particular order. Not surprisingly, they are all North of the river.
3. Alberta Avenue
5. Boyle Street
I can’t stress enough that these are not necessarily areas to stay away from, just be aware that they are transitional. Like I said, we own and manage quite a few rental properties in these areas. I would suggest that you stay off the main arteries, though, such as 118 Ave and Stony Plain Road, etc. Generally speaking, stick to more residential streets with houses and big, old trees.
In closing, I write this article more as an opportunity to real estate investors to ensure that you include these areas in your search for solid, cash flowing rental properties. Yes, they will demand more hands on property management, but the returns can be fantastic if you have the nerve!
Looking for some help with rental property management? Reach out to our property management company here!