50
See all 50 photos
$1,195,432
Est. payment /mo
423 Sqft Lot
Price Dropped by $3K
521 22 AVE SW Calgary, AB T2S 0H5
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Cliff Bungalow
MLS® Listing ID A2199034
Year Built 1911
Annual Tax Amount $5,172
Tax Year 2024
Lot Size 423 Sqft
Acres 0.01
Property Sub-Type Multi Family
Source Calgary
Property Description
Exceptional investment opportunity in Calgary's vibrant Cliff Bungalow/Mission community. This well-maintained 5-unit property is situated on a 37.5' x 120' lot on a quiet, tree-lined street—just steps from 4th Street and 17th Avenue, surrounded by top restaurants, boutique shopping, and major transit options.
The building includes four 1-bedroom units and one 2-bedroom unit, all featuring in-suite washer/dryers. Three suites were recently leased with June 1st start dates, and all five are fully tenanted with leases in place. Current annual rental income is $95,340, reflecting an estimated 8% cap rate.
Interior updates include modernized bathrooms in three of the units and tasteful finishes throughout. Three suites are furnished, offering flexibility for both long- and short-term rental strategies. The property also features off-street parking for four vehicles and a storage shed.
This is a highly desirable lifestyle location—less than one block to Lululemon, Starbucks, boutique fitness studios, yoga, and the MNP Community & Sport Centre, a world-class training facility. The area attracts professionals and active urban dwellers, contributing to strong rental demand and long-term value.
The City of Calgary has confirmed the property as a legal non-conforming 5-unit multi-family dwelling (see supplements). This is a rare opportunity to acquire a cash-flowing asset in one of Calgary's trendiest and most walkable inner-city neighbourhoods.
The building includes four 1-bedroom units and one 2-bedroom unit, all featuring in-suite washer/dryers. Three suites were recently leased with June 1st start dates, and all five are fully tenanted with leases in place. Current annual rental income is $95,340, reflecting an estimated 8% cap rate.
Interior updates include modernized bathrooms in three of the units and tasteful finishes throughout. Three suites are furnished, offering flexibility for both long- and short-term rental strategies. The property also features off-street parking for four vehicles and a storage shed.
This is a highly desirable lifestyle location—less than one block to Lululemon, Starbucks, boutique fitness studios, yoga, and the MNP Community & Sport Centre, a world-class training facility. The area attracts professionals and active urban dwellers, contributing to strong rental demand and long-term value.
The City of Calgary has confirmed the property as a legal non-conforming 5-unit multi-family dwelling (see supplements). This is a rare opportunity to acquire a cash-flowing asset in one of Calgary's trendiest and most walkable inner-city neighbourhoods.
Location
Province AB
County Calgary
Area Cal Zone Cc
Zoning M-CG
Interior
Heating Forced Air, Natural Gas
Inclusions Appliances Included: 5 Refrigerators, 5 Stoves, 1 Built-in Dishwasher, 4 Washer, 4 Dryer, 1 combination Washer/Dryer,
Exterior
Roof Type Asphalt Shingle
Lot Frontage 37.47
Total Parking Spaces 4
Building
Foundation Poured Concrete
Structure Type Metal Siding ,Wood Frame
Others
Restrictions None Known
Tax ID 95256829
Ownership Private
Listed by eXp Realty