Should I sell my Edmonton condo?

Hi all,

Currently own a 1BR condo near Saskatchewan Drive in Edmonton (for those not from here, it's between Whyte Ave and downtown). I bought it cash for $119k in 2018. It is a walk-up built in the 1970s. Current assessment is $104k.

Units in the building have recently sold anywhere between $95k and $110k in the last two years. I have been approached by a private investor to sell it for $102k.

If you were in my position, would you sell?

Current numbers:

Condo fees: $490

Tenant pays: $1175

Property tax: $1300/year

Insurance: $1100/year

We have had 3 special assessments of around $1500 each in the last 5 years. The building still needs quite a few repairs so we are expecting more assessments in the next few years despite having a healthy reserve fund (which the board is hesitant to pull too much from). Quite a few owners have jumped ship in 2025 because we have also increased our condo fees by 10%.

It is generating income so I'm not sure if we should sell or not? A wishful part of me hopes eventually Edmonton would follow Calgary in terms of home prices skyrocketing but I'm not convinced.

Thoughts?