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Investment Properties
521 22 Avenue SW
Cliff Bungalow
Calgary
T2S 0H5
$1,297,000
Residential
beds: 6
baths: 5.0
2,124 sq. ft.
built: 1911
- Status:
- Active
- Prop. Type:
- Residential
- MLS® Num:
- A2114456
- Bedrooms:
- 6
- Bathrooms:
- 5
- Year Built:
- 1911
- Photos (49)
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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.
- Property Type:
- Residential
- Property Sub Type:
- Detached
- Condo Type:
- Not a Condo
- Transaction Type:
- For Sale
- Possession:
- Signup
- Possession Date:
- Signup
- Suite:
- Suite - Illegal
- Home Style:
- 2 Storey
- Total Living Area:
- 2,124 sq. ft.197.33 m2
- Main Level Finished Area:
- 1,440 sq. ft.133.78 m2
- Upper Level Finished Area:
- 684 sq. ft.63.55 m2
- Lower Level Finished Area:
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- Above Grade Finished Area:
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- Below Grade Finished Area:
- 1,143.5 sq. ft.106.23 m2
- Taxes:
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- Tax Assessed Value:
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- HOA Fee Includes:
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- Lot Area:
- 4,553 sq. ft.422.99 m2
- Lot Frontage:
- 37'6"11.421 m
- Acres Cleared:
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- Acres Cultivated:
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- Acres Irrigated:
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- Acres Leasehold:
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- Acres Not Cultivated:
- Signup
- Acres Freehold:
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- Acres Seeded:
- Signup
- Acres Tame Hay:
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- Acres Treed:
- Signup
- Acres Waste:
- Signup
- Acres Water Rights:
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- Front Exposure:
- North
- Reg. Size:
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- Reg. Size Includes:
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- Levels:
- Two
- Total Rooms Above Grade:
- 11
- Year built:
- 1911 (Age: 113)
- Bedrooms:
- 6 (Above Grd: 4)
- Bedrooms Above Grade:
- 4
- Bedrooms Below Grade:
- 2
- Bathrooms:
- 5.0 (Full:5, Half:0)
- Plan:
- 4453L
- Heating:
- Forced Air, Natural Gas
- Basement:
- Finished, Full
- Foundation:
- Poured Concrete
- New Constr.:
- No
- Construction Material:
- Metal Siding, Wood Frame
- Structure Type:
- House
- Roof:
- Asphalt Shingle
- Ensuite:
- No
- Flooring:
- Carpet, Ceramic Tile, Hardwood, Laminate, Linoleum
- Cooling:
- None
- Fireplaces:
- 0
- Water Supply:
- Public
- Garage:
- 0
- Parking:
- Parking Pad
- Parking Places:
- 4.0
- Parking Total/Covered:
- 4 / -
- Laundry Features:
- See Remarks
- Cliff Bungalow
- Dishwasher, Refrigerator, Stove(s), Washer
- Appliances Included: 5 Refrigerators, 5 Stoves, 1 Built-in Dishwasher, 2 Washers, 1 Dryer, 1 combination Washer/Dryer
- None Known
- Floor
- Type
- Size
- Other
- Main Floor
- Living Room
- 14'11"4.55 m × 11'8"3.56 m
- Main Floor
- Kitchen
- 12'4"3.76 m × 9'11"3.02 m
- Main Floor
- Bedroom - Primary
- 12'7"3.84 m × 11'6"3.51 m
- Upper Level
- Kitchen
- 12'1"3.68 m × 10'11"3.33 m
- Upper Level
- Living Room
- 18'4"5.59 m × 13'5"4.09 m
- Upper Level
- Bedroom - Primary
- 11'10"3.61 m × 10'4"3.15 m
- Upper Level
- Kitchen
- 7'9"2.36 m × 5'7"1.70 m
- Upper Level
- Dining Room
- 9'7"2.92 m × 7'7"2.31 m
- Upper Level
- Living Room
- 10'3"3.12 m × 9'9"2.97 m
- Upper Level
- Bedroom - Primary
- 11'9"3.58 m × 11'3.35 m
- Upper Level
- Bedroom
- 11'11"3.63 m × 10'10"3.30 m
- Lower Level
- Kitchen
- 9'11"3.02 m × 7'10"2.39 m
- Lower Level
- Living Room
- 14'5"4.39 m × 8'8"2.64 m
- Lower Level
- Bedroom - Primary
- 16'6"5.03 m × 9'4"2.84 m
- Lower Level
- Kitchen
- 12'3"3.73 m × 11'6"3.51 m
- Lower Level
- Living Room
- 11'6"3.51 m × 11'3.35 m
- Lower Level
- Furnace/Utility Room
- 12'10"3.91 m × 5'6"1.68 m
- Lower Level
- Bedroom - Primary
- 10'7"3.23 m × 7'4"2.24 m
- Floor
- Ensuite
- Pieces
- Other
- Main Floor
- No
- 4
- 5'5" x 9'10"
- Upper Level
- No
- 3
- 6' x 7'
- Upper Level
- No
- 4
- 9'6" x 4'11"
- Lower Level
- No
- 4
- 5'7" x 8'1"
- Lower Level
- No
- 4
- 7'4" x 6'10"
- Title to Land:
- Fee Simple
- Community Features:
- Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
- Interior Features:
- See Remarks
- Exterior Features:
- Private Entrance
- Patio And Porch Features:
- Porch, See Remarks
- Lot Features:
- Back Lane, Level, Rectangular Lot, Treed
- Num. of Parcels:
- 0
- Fencing:
- Fenced, Partial
- Region:
- Calgary
- Zone:
- CAL Zone CC
- Zoning:
- M-CG d111
- Listed Date:
- Mar 18, 2024
- Days on Mkt:
- Signup
-
Character 1912 Home in the heart of Cliff Bungalow / Mission. Steps to Starbucks and Purple Perk Coffee, Masters Gallery.
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New deck on front exterior.
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4 Parking Spots behind building. Unit #4 has two bedrooms & a South Deck.
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4 Parking Spots behind building.
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Unit #1 & #2 Entrance Hall
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Unit #1 - living. Comes fully furnished.
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Unit #1 - living. Comes fully furnished.
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Unit #1 - living. Comes fully furnished.
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Unit #1 - Kitchen w Combination Washer Dryer. Comes fully furnished.
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Unit 1 - Combination Washer Dryer. Comes fully furnished.
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Unit #1 - kitchen. Comes fully furnished.
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Unit #1 - bedroom. Comes fully furnished.
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Unit #1 - bedroom. Comes fully furnished.
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Unit #1 - bathroom. Comes fully furnished.
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Unit #2 - Stairs
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Unit #2 - Living
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Unit #2 - bedroom
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Unit #2 - bathroom
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Unit #2 - Living
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Unit #2 - Kitchen
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Unit #3 Entrance (East Side) is on the lower level
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Unit #3 - Bathroom. Comes fully furnished.
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Unit #3 - Kitchen. Comes fully furnished.
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Unit #3 - living / eating area. Comes fully furnished.
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Unit #3 - living / eating area. Comes fully furnished.
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Unit #3 - bedroom. Comes fully furnished.
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Unit #3 - bedroom. Comes fully furnished.
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Unit #4 - bedroom #1. Comes fully furnished.
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Unit #4 - bedroom #2. Comes fully furnished.
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Unit #4 - Bedroom #2. Comes fully furnished.
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Unit #4 - dining / living. Comes fully furnished.
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Unit #4 - bathroom. Comes fully furnished.
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Unit #4 - living / dining. Comes fully furnished.
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Unit #4 -kitchen. Comes fully furnished.
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Unit #4 - kitchen. Comes fully furnished.
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Unit #4 - dining / living. Comes fully furnished.
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Unit #4 - balcony. Comes fully furnished.
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Unit #5 - Entrance
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Unit #5 - Kitchen. Comes fully furnished.
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Unit #5 - Living. Comes fully furnished.
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Unit #5 Kitchen. Comes fully furnished.
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Unit #5 - bedroom. Comes fully furnished.
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Listed by eXp Realty
Data was last updated April 29, 2024 at 06:05 PM (UTC)
Area Statistics
- Listings on market:
- 20
- Avg list price:
- $874,425
- Min list price:
- $204,500
- Max list price:
- $1,695,000
- Avg days on market:
- 42
- Min days on market:
- 2
- Max days on market:
- 178
- Avg price per sq.ft.:
- $531.57
These statistics are generated based on the current listing's property type
and located in
Cliff Bungalow. Average values are
derived using median calculations.
- CHRIS MARSHALL
- RE/MAX HOUSE OF REAL ESTATE
- 403-585-5362
- Contact by Email
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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