521 22 Avenue Sw Calgary, Alberta T2S 0H5
$1,199,000
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:57810)
Property Details
| MLS® Number | A2198714 |
| Property Type | Single Family |
| Neigbourhood | Cliff Bungalow |
| Community Name | Cliff Bungalow |
| Amenities Near By | Playground, Schools, Shopping |
| 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 | 2,124 Ft2 |
| 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, Schools, Shopping |
| Size Depth | 36.59 M |
| Size Frontage | 11.42 M |
| Size Irregular | 39.30 |
| Size Total | 39.3 M2|0-4,050 Sqft |
| Size Total Text | 39.3 M2|0-4,050 Sqft |
| Zoning Description | M-cg |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Lower Level | Kitchen | 2.39 M x 3.02 M | ||
| Lower Level | Living Room | 4.40 M x 2.64 M | ||
| Lower Level | Primary Bedroom | 5.03 M x 2.84 M | ||
| Lower Level | 4pc Bathroom | 2.46 M x 1.70 M | ||
| Lower Level | Kitchen | 3.73 M x 3.51 M | ||
| Lower Level | Living Room | 3.35 M x 3.51 M | ||
| Lower Level | Furnace | 3.91 M x 1.68 M | ||
| Lower Level | Primary Bedroom | 3.23 M x 2.23 M | ||
| Lower Level | 4pc Bathroom | 2.08 M x 2.23 M | ||
| Main Level | Living Room | 3.56 M x 4.55 M | ||
| Main Level | Kitchen | 3.02 M x 3.76 M | ||
| Main Level | Primary Bedroom | 3.51 M x 3.83 M | ||
| Main Level | 4pc Bathroom | 3.00 M x 1.65 M | ||
| Upper Level | Kitchen | 3.68 M x 3.33 M | ||
| Upper Level | Living Room | 4.09 M x 5.59 M | ||
| Upper Level | 3pc Bathroom | 2.13 M x 1.83 M | ||
| Upper Level | Primary Bedroom | 3.61 M x 3.15 M | ||
| Upper Level | Kitchen | 1.70 M x 2.36 M | ||
| Upper Level | Dining Room | 2.92 M x 2.31 M | ||
| Upper Level | Living Room | 2.97 M x 3.12 M | ||
| Upper Level | Primary Bedroom | 3.58 M x 3.35 M | ||
| Upper Level | Bedroom | 3.30 M x 3.63 M | ||
| Upper Level | 4pc Bathroom | 1.50 M x 2.90 M |
https://www.realtor.ca/real-estate/27979084/521-22-avenue-sw-calgary-cliff-bungalow
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March 07 2025 02:56:53
Calgary Real Estate Board
Exp Realty
