49
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$1,199,000
Est. payment /mo
423 Sqft Lot
Active
521 22 AVE SW Calgary, AB T2S 0H5
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UPDATED:
03/14/2025 05:10 PM
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Cliff Bungalow
MLS® Listing ID A2199034
Originating Board Calgary
Year Built 1911
Annual Tax Amount $5,172
Tax Year 2024
Lot Size 423 Sqft
Acres 0.01
Property Sub-Type Multi Family
Property Description
Prime investment opportunity in Calgary's Cliff Bungalow/Mission district with a 6.5% cap rate and $102,000 annual gross income. This well-maintained 5-plex sits on a 37.5' x 120' lot on a picturesque, tree-lined street, just steps from 4th Street, 17th Avenue, restaurants, shops, and transit. Originally built in the early 1900s and converted into five units in the 1950s and 60s, the property features four one-bedroom units and one two-bedroom unit, each with modern conveniences while maintaining the charm of the original home. Recent updates include new shingles in 2021 and fully renovated bathrooms in Units #1 and #2 in 2022. The sale includes furnishings in three of the five suites, offering a turnkey opportunity for investors looking to operate long-term or short-term rentals. The property has a strong rental history and has previously operated as a high-performing short-term rental, demonstrating its revenue-generating potential. Additional features include off-street parking for four vehicles, a storage shed, and easy access to major transit routes, including the #3 bus and Erlton C-Train station. Located near the Elbow River pathways and MNP Community & Sport Centre, this location is ideal for active urban dwellers. With all five units currently occupied but with leases ending soon, investors have the flexibility to adjust rental rates or explore redevelopment opportunities. Whether expanding a rental portfolio or planning for future development, this rare inner-city gem offers immediate income and long-term potential in one of Calgary's most desirable neighborhoods.
Location
Province AB
County Calgary
Area Cal Zone Cc
Zoning M-CG
Interior
Heating Forced Air, Natural Gas
Inclusions Appliances Included: 5 Refrigerators, 5 Stoves, 1 Built-in Dishwasher, 2 Washer, 2 Dryer, 1 combination Washer/Dryer,
Exterior
Roof Type Asphalt Shingle
Lot Frontage 37.47
Total Parking Spaces 4
Building
Foundation Poured Concrete
Structure Type Metal Siding ,Wood Frame
Others
Restrictions None Known
Tax ID 95256829
Ownership Private
Listed by eXp Realty