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403.472.3009

CHRIS.MCANDREW@CENTURY21.CA

 

Century 21 Elevate Office: 30 Springborough Blvd SW, Suite 250, Calgary, AB T3H0N9


LOADING

521 22 Avenue Sw Calgary, Alberta T2S 0H5

6 Bedroom 5 Bathroom 2124 sqft
None Forced Air

$1,297,000

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 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.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:48042)

Property Details

MLS® Number A2114456
Property Type Single Family
Community Name Cliff Bungalow
Amenities Near By Playground
Features Treed, See Remarks, Back Lane, Level
Parking Space Total 4
Plan 4453l
Structure Porch, Porch, Porch, See Remarks

Building

Bathroom Total 5
Bedrooms Above Ground 4
Bedrooms Below Ground 2
Bedrooms Total 6
Appliances Washer, Refrigerator, Dishwasher, Stove
Basement Development Finished
Basement Type Full (finished)
Constructed Date 1911
Construction Material Wood Frame
Construction Style Attachment Detached
Cooling Type None
Exterior Finish Metal
Flooring Type Carpeted, Ceramic Tile, Hardwood, Laminate, Linoleum
Foundation Type Poured Concrete
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Size Interior 2124 Sqft
Total Finished Area 2124 Sqft
Type House
Utility Water Municipal Water

Parking

Parking Pad

Land

Acreage No
Fence Type Fence, Partially Fenced
Land Amenities Playground
Size Depth 36.59 M
Size Frontage 11.42 M
Size Irregular 4553.13
Size Total 4553.13 Sqft|4,051 - 7,250 Sqft
Size Total Text 4553.13 Sqft|4,051 - 7,250 Sqft
Zoning Description M-cg D111

Rooms

LevelTypeDimensions
Lower Level Kitchen 7.83 Ft x 9.92 Ft
Lower Level Living Room 14.42 Ft x 8.67 Ft
Lower Level Primary Bedroom 16.50 Ft x 9.33 Ft
Lower Level 4pc Bathroom 8.08 Ft x 5.58 Ft
Lower Level Kitchen 12.25 Ft x 11.50 Ft
Lower Level Living Room 11.00 Ft x 11.50 Ft
Lower Level Furnace 12.83 Ft x 5.50 Ft
Lower Level Primary Bedroom 10.58 Ft x 7.33 Ft
Lower Level 4pc Bathroom 6.83 Ft x 7.33 Ft
Main Level Living Room 11.67 Ft x 14.92 Ft
Main Level Kitchen 9.92 Ft x 12.33 Ft
Main Level Primary Bedroom 11.50 Ft x 12.58 Ft
Main Level 4pc Bathroom 9.83 Ft x 5.42 Ft
Upper Level Kitchen 12.08 Ft x 10.92 Ft
Upper Level Living Room 13.42 Ft x 18.33 Ft
Upper Level 3pc Bathroom 7.00 Ft x 6.00 Ft
Upper Level Primary Bedroom 11.83 Ft x 10.33 Ft
Upper Level Kitchen 5.58 Ft x 7.75 Ft
Upper Level Dining Room 9.58 Ft x 7.58 Ft
Upper Level Living Room 9.75 Ft x 10.25 Ft
Upper Level Primary Bedroom 11.75 Ft x 11.00 Ft
Upper Level Bedroom 10.83 Ft x 11.92 Ft
Upper Level 4pc Bathroom 4.92 Ft x 9.50 Ft

https://www.realtor.ca/real-estate/26635162/521-22-avenue-sw-calgary-cliff-bungalow