Multi-Family
Year Built: 1979
Area: 8000 sqft
Car Parking: 10
423 3 Avenue Ne Calgary, Alberta T2E 0H7
$2,499,000
Description
INVESTMENT OPPORTUNITY — 5.80% CAP RATE | 10-UNIT CONCRETE APARTMENT BUILDING, CRESCENT HEIGHTSRare opportunity to acquire a stabilized, income-producing multifamily asset in one of Calgary's most established inner-city locations. This four-storey concrete-constructed building offers the durability, lower insurance profile, and long-term hold quality serious investors look for — concrete buildings of this size and location seldom come to market.The numbers: Offered at $2,499,000 ($249,900/unit). Gross scheduled income of $192,660 with a 2026 NOI of $144,898, delivering a 5.80% capitalization rate at asking price.The asset: 10 suites with an excellent, rent-friendly mix — six 1-bedroom, two 2-bedroom, and two 3-bedroom suites (16 bedrooms total) — a configuration that supports strong occupancy across market cycles. The building sits on a 50' × 125' lot zoned M-C2 in Crescent Heights, minutes to downtown, Bridgeland, and the Bow River pathway system. Includes 10 surface parking stalls and 10 tenant storage lockers. Professionally managed, with financial statements and rent roll available to qualified buyers upon request. Well-located, well-built, and priced at a cap rate that stands out in the current Calgary multifamily market. This is a long-term hold asset for an investor seeking stable inner-city income with a concrete building's peace of mind. (id:51913)
Property Details
| Parking Space Total : 10 |
| Plan : 1332n |
| MLS® Number : A2348121 |
| Property Type : Multi-family |
| Community Name : Crescent Heights |
Building
| Constructed Date : 1979 |
| Construction Material : Poured Concrete |
| Cooling Type : None |
| Exterior Finish : Concrete |
| Fire Protection : Smoke Detectors |
| Foundation Type : Piled, Poured Concrete |
| Heating Fuel : Natural Gas |
| Size Exterior : 8000 Sqft |
| Size Interior : 8000 Sqft |
| Total Finished Area : 8000 Sqft |
| Type : Multi-family |
Land
| Size Total : 5984.73 Sqft|4,051 - 7,250 Sqft |
| Size Total Text : 5984.73 Sqft|4,051 - 7,250 Sqft |
| Size Frontage : 15.24 M |
| Acreage : No |
| Size Depth : 38.1 M |
| Size Irregular : 5984.73 |
| Zoning Description : M-c2 |
Map
Agents and Offices
- Scott Armstrong
- Office: RE/MAX Complete Realty
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