AB
Calgary
T2S0H5
521 22 Avenue SW
521 22 Avenue SW, Calgary, AB T2S0H5
Listing Type
single family
Listing Status
active
49
$1,297,000

Home Details for 521 22 Avenue SW

Price
$1,297,000
Type
Single Family
Bedrooms
6
Bathrooms
5.0
Square feet
2124
Year built
1911
Lot size acres
4553.13 sqft|4,051 - 7,250 sqft
Parking
Parking Pad
Basement
Full (Finished)
Days on site
90
Listing #
A2114456_26635162
Listing courtesy: eXp Realty
Property Description

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:1184)

Property Features
  • House Interior
    • Treed
    • See remarks
    • Back lane
    • Level
  • Cooling Information
    • None
  • Heating Information
    • Forced air
  • Parking
    • Parking Pad
  • Basement
    • Full (Finished)
  • Fire Place
    • False
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Market statistics compiled from data from Canadian Real Estate Association.
EXIT REALTY PEI
41 MacLeod Crescent, Charlottetown, PE C1E 3K2
Steve Yoston
Franchisee
Office
902 892 7653
Agent
902 393 3868
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