AB > Calgary > Cliff Bungalow
Calgary, AB T2S 0H5,521 22 AVE SW
Calgary, AB T2S 0H5,521 22 AVE SW
Calgary, AB T2S 0H5,521 22 AVE SW
Calgary, AB T2S 0H5,521 22 AVE SW
Calgary, AB T2S 0H5,521 22 AVE SW
Calgary, AB T2S 0H5,521 22 AVE SW
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Ruth Alexander

Ruth Alexander

+1(403) 969-0109
$ 1,199,000
Est. payment | /mo

423 Sqft Lot

Save
$ 1,199,000
Est. payment | /mo
Save

423 Sqft Lot

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
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+1(403) 969-0109

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700 1816 Crowchild Trail NW Calgary AB T2M 3Y7

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521 22 AVE SW