Prime Investment Opportunity with a 6.68% 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). Units #1, 3, 4, and 5 are being sold fully furnished, included in the sale price - you are ready for business!Recent renovations underscore the propertys 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.This investment shines with a robust 6.68% cap rate, underlining its status as a high-performing asset. 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 and functionality. 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:55598)
- MLS® A2114456
- Date Listed03/18/2024
- Days on Realty 155 Days
- Bedrooms 6
- Bathrooms 5 baths
- Lot Size -
- Subdivision Cliff Bungalow
- Property Type Single Family Residence
- Year Built 1911
- Water Public
- Square Feet 2,124 sq. ft
- Price Per Sq. Ft $610.64
Interior Features
- Appliances Washer, Refrigerator, Dishwasher, Stove
- Flooring Carpeted, Ceramic Tile, Hardwood, Laminate, Linoleum
- Cooling None
- Heating Forced Air, Natural Gas
Exterior / Lot Features
- Roof -
- Lot Size Acres -
- Lot Size SQFT -
- Lot Features -
Nearby Schools
Source: School Digger
Sales & Tax History
Source: Public Records
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Frequently Asked Questions for 521 22 Avenue SW
Source: Realty.com
521 22 Avenue SW, Calgary, AB T2S0H5 is a Single Family Residence, Residential property listed for $1,297,000 The property is 2124 sq. ft with 6 bedrooms and 5 bathrooms
Realty.com has 49 photos of 521 22 Avenue SW.
Our records indicate that 521 22 Avenue SW was built in 1911.
The full address for this home is 521 22 Avenue SW, Calgary, AB T2S0H5.
521 22 Avenue SW has been listed on Realty.com since Mon March 18, 2024
The average walkability score in the surrounding area is Walk Score: 66/100, Transit Score: 56/100, Bike Score: 78/100.
Listing provided courtesy of:
eXp Realty
(tel: (403) 262-7653)
Listing agent:
Bryon R. Howard
(tel: (403) 589-0004)
This content last refreshed on 2024-08-20 05:21:14. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Export listing data of 521 22 Avenue SW, Calgary, AB T2S0H5 : MLS® A2114456