521 22 Avenue Sw, Cliff Bungalow in Calgary, AB
This is a Residential (2 Storey) with a Finished, Full basement and Parking Pad parking.
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521 22 Avenue Sw, Cliff Bungalow in Calgary
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.
$1,297,000
521 22 Avenue Sw, Calgary, Alberta
Essential Information
- MLS® #A2114456
- Price$1,297,000
- Price per Sqft611
- Bedrooms6
- Bathrooms5.00
- Full Baths5
- Square Footage2,124
- Acres0.10
- Year Built1911
- TypeResidential
- Sub-TypeDetached
- Style2 Storey
- StatusActive
- Days on Market40
Amenities
- Parking Spaces4
- ParkingParking Pad
Room Dimensions
- Dining Room9`7 x 7`7
- Kitchen9`11 x 12`4
- Living Room11`8 x 14`11
- Master Bedroom11`6 x 12`7
- Bedroom 210`10 x 11`11
Additional Information
- ZoningM-CG d111
Community Information
- Address521 22 Avenue Sw
- SubdivisionCliff Bungalow
- CityCalgary
- ProvinceCalgary
- Postal CodeT2S 0H5
Interior
- Interior FeaturesSee Remarks
- AppliancesDishwasher, Refrigerator, Stove(s), Washer
- HeatingForced Air, Natural Gas
- CoolingNone
- Has BasementYes
- BasementFinished, Full
Exterior
- Exterior FeaturesPrivate Entrance
- Lot DescriptionBack Lane, Level, Rectangular Lot, Treed
- RoofAsphalt Shingle
- ConstructionMetal Siding, Wood Frame
- FoundationPoured Concrete
- Lot Size Square Feet4553.00
- Listing Frontage11.42M 37`6"
Listing Details
- Listing OfficeeXp Realty