423 3 Avenue NE, Calgary, AB T2E0H7
423 3 Avenue NE, Calgary, AB T2E0H7
423 3 Avenue NE, Calgary, AB T2E0H7
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Adam Vetter

Adam Vetter

+1(403) 872-4392
$2,499,000
Est. payment /mo
8,000 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Approx. Sqft 8000

Square Footage 8,000 sqft

Price per Sqft $312

Subdivision Crescent Heights

MLS® Listing ID A2348121

Year Built 1979

Lot Size 5,984 Sqft

Acres 5984.73

Property Sub-Type Freehold

Property 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:24570)

Location

Province AB

Rooms

Kitchen 0.0

Interior

Cooling None

Exterior

Parking Features No

View Y/N No

Attached Garage No

Total Parking Spaces 10

Garage No

Private Pool No

Others

Ownership Freehold

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Adam Vetter

Adam Vetter

+1(403) 872-4392

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