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The MADISON is the dawning of an exciting real estate opportunity in one of the fastest growing cities in Canada: Leduc Alberta. Comprised of two inviting three and four storey walk-up condominium buildings situated amongst a well-maintained single-family home community, The Madison is enhanced by an abundance of parkland, close proximity to schools and convenient access to many other urban amenities.
• The Madison is comprised of two inviting three and four storey walk-up condominium buildings located in the central section of Leduc, Alberta.
• Built in 1972, these wood framed buildings offer three well-designed floor plans, including either a large balcony or open patio and in-suite storage area.
• The Madison features 15 one bedroom condominium suites, 21 two bedroom condominium suites, and 16 two bedroom 2 level condominium suites (these last type are sold out). The 1 & 2 suites, range in size from 692 to 864 square feet.
• The entire renovation program totalled $743,000 and was completed in 2011.
• The in-suite renovation package totalled $468,000 and included: new laminate and or carpets, linoleum in kitchens and bathrooms, new dishwashers, ranges and fridges, new countertops and sinks in kitchen and bathrooms, new kitchen cabinet doors, new bathroom vanities, new bathtubs, tub-surrounds and plumbing fixtures, new lighting packages, new closet doors, new baseboards and fresh paint.
• Exterior and common area renovation package totalled $275,000, which included landscaping upgrades, parking lot improvements, upgrades to lobby, stairwells and hallways which included tile new entrance, carpet flooring, lighting and redecorating throughout. Laundry rooms were updated and new washers and dryers installed. New master key system was installed new fire system upgraded to Fire Marshall standards. New air make- up furnaces, new controls and pumps. Exterior upgrades include minor roof repairs and repainted stucco with elastomeric paint.
A reserve fund of approximately $104,000 has been established for The Madison and a first year reserve allocation for the property of $9,360 has been put in place through the condo budget.
Managed By Braden Equities Property Management