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$1,199,000
 
2124 Sq.Ft.
521 22 Avenue SW, Cliff Bungalow, Calgary, Alberta, T2S0H5
MLS® Number: A2199034

Multi-family House for Sale in Avenue SW Cliff Bungalow Calgary

Property Information

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. (id:50315)

Property Summary
Property Type

Multi-family

Building Type

Storey

Community Name

Subdivision Name

Cliff Bungalow

Title

 

Land Size
2124Sq.Ft.
Built in
1911
Annual Property Taxes
$5172
Parking Type
Published
9 days
Building
Bedrooms
Total
Below Grade
 
Bathrooms
Total
Partial
Interior Features
Appliances Included

Flooring

Basement Features

Basement Type

Building Features
Features

Foundation Type

Poured Concrete

Architectural Style

Construction Material

Wood frame

Floor Space
2124.00Sq.Ft.
Total Finished Area
2124.00Sq.Ft.
Structures
Metal
Heating & Cooling
Cooling
Fireplace
Heating Type
Forced air, Natural gas
Exterior Features
Exterior Finish
Metal
Neighbourhood Features
Amenities Nearby
 
 
Parking Type
Total Parking Spaces
4
Interested in this property?
Kuldip Singh Parmar
Kuldip Singh Parmar
Associate
Balpreet Tehri
Balpreet Tehri
Associate
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