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Michael Beckett, Agent
Email: Click
Mobile: (403) 862-0546
Office: 403-259-4141
Brokerage
Remax Realty Professionals
10-6020 1A Street SW
Calgary, AB T2H0G3
Canada
Prime Investment Opportunity with a 7% Cap Rate in the Mission / Cliff Bungalow District of Central SW Calgary -Moments from Starbucks and the Dynamic 4th Street Scene! Seize the chance to own a remarkable investment on a prime 37'x120' lot within Calgary's coveted Mission district. This well-maintained 5-plex, standing proudly on a scenic, tree-lined street, blends the vibrancy of urban living with the enchanting allure of its early 1900s origins. Skillfully converted into five illegal suites (four 1-bedroom and one 2-bedroom), this two-story building captivates with each unit's unique character, enhanced by modern amenities including a complete set of appliances (five refrigerators, five stoves, one dishwasher, and one combination washer/dryer, two washers & 1 dryer). Recent renovations underscore the property’s commitment to quality and comfort, with new shingles installed in 2021 and the bathrooms in suites #1 and #2 completely remodeled in 2022, offering a contemporary living experience. Strategically situated, the property grants unbeatable access to the lively corridors of 17th Avenue and 4th Street SW, renowned for their rich assortment of dining, nightlife, and boutique shopping. It's a haven for those who thrive on an active lifestyle, with the MNP Community & Sport Centre and picturesque bike paths along the Elbow River just a stone's throw away. The convenience of biking or taking transit to downtown Calgary adds to this investment's allure. Four of the five illegal suites have been operating as lucrative Airbnb short-term rentals, a testament to their consistent demand and the property's income-generating prowess. Currently, only 1 is operating as an AirBnB with the balance on long-term leases. In addition, four parking spaces at the rear enhance its attractiveness andfunctionality. (This purchase price includes all the furnishings in 4 of the 5 suites. You are ready for business!) Whether your goal is to bolster your rental portfolio with a property boasting a solid revenue history and recent upgrades or to explore future development possibilities on this versatile lot — be it constructing your dream home or a new multifamily unit — this opportunity is ripe with potential. Invest in a locale that offers both growth and a lifestyle that's hard to match. (id:49663)
MLS® Number | A2118519 |
Property Type | Multi-family |
Community Name | Cliff Bungalow |
Parking Space Total | 4 |
Plan | 4453l |
Road Type | Paved Road |
Constructed Date | 1911 |
Construction Material | Wood Frame |
Exterior Finish | Metal |
Foundation Type | Poured Concrete |
Heating Fuel | Natural Gas |
Heating Type | Forced Air |
Size Exterior | 2124 Sqft |
Size Interior | 2124 Sqft |
Total Finished Area | 2124 Sqft |
Type | Multi-family |
Acreage | No |
Size Depth | 36.59 M |
Size Frontage | 11.42 M |
Size Irregular | 4553.00 |
Size Total | 4553 Sqft|4,051 - 7,250 Sqft |
Size Total Text | 4553 Sqft|4,051 - 7,250 Sqft |
Zoning Description | M-cg D111 |
https://www.realtor.ca/real-estate/26685084/521-22-avenue-sw-calgary-cliff-bungalow
Michael Beckett
Agent
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
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Social
Get in Touch
Michael Beckett, Agent
Email: Click
Mobile: (403) 862-0546
Office: 403-259-4141
Brokerage
Remax Realty Professionals
10-6020 1A Street SW
Calgary, AB T2H0G3
Canada