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$1,297,000
15 Days Online

521 22 Avenue SW
Calgary, AB T2S0H5

For Sale|Multi-Family|Active
Subdivision:
Cliff Bungalow
County:

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

521 22 Avenue SW521 22 Avenue SW521 22 Avenue SW521 22 Avenue SW
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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:55532)

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Listing Snapshot
Price 
$1,297,000
Days Online 
15 Days
Bedrooms 
N/A
Inside Area (SqFt) 
2,124 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
4,553 Acres
Year Built 
1911
MLS® Number 
A2118519
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
an hour agoListing updated with changes from the MLS®
2 weeks agoListing first seen online
General Features
Parking Spaces 
4
Zoning 
M-CG d111
Property Sub Type 
Multi Family
Foundation 
Slab
Interior Features
Heating 
Forced AirNatural Gas
Fireplace 
No
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Listing courtesy of: Bryon R. Howard of eXp Realty

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. Used under license.

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. These trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association.

Neighborhood & Commute
Source: Walkscore
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