UPDATED:
Key Details
Property Type Multi-Family
Sub Type 4 plex
Listing Status Active
Purchase Type For Sale
Square Footage 2,037 sqft
Price per Sqft $527
Subdivision Cambrian Heights
MLS® Listing ID A2222295
Style Attached-Side by Side,Bungalow
Year Built 1958
Annual Tax Amount $4,702
Tax Year 2024
Lot Size 5,188 Sqft
Acres 0.12
Property Sub-Type 4 plex
Source Calgary
Property Description
The property consists of four units, 2 two-bedroom, one-bathroom units, and 2 one-bedroom units that could be converted to two bedrooms as already 2 closets, each equipped with essential amenities such as a shared laundry on each side of the complex, updated modern white kitchens, and spacious living areas. With an attractive layout and ample natural light, these units appeal to a range of tenants, from young professionals to small families.
The exterior of the building boasts a low maintenance facade with well-kept landscaping and designated parking spaces for tenants plus plenty of street parking. The property is compliant with all local zoning regulations and has been certified as a legal 4-plex, ensuring that each unit is recognized as a separate dwelling for legal and financial purposes.
Investing in this 4-plex not only provides a steady stream of rental income but also offers potential for appreciation in an area with high demand for rental properties. The current occupancy rate is strong, with long-standing tenants in place, minimizing turnover and vacancy risks.
This property stands out due to its low maintenance needs and the fact the kitchens and bathrooms have been updated in all units. Rental income could be increased and converting the utility costs back to the tenants would improve the income return. .There are 4 gas meters and 4 electrical meters.
Whether you're a seasoned investor or new to real estate, this legal 4-plex presents a unique opportunity to invest in a thriving market with solid returns. Current rents are $1400/month for 2 bedrooms, $1100/month for one bedrooms. Insurance $2756, utilities $13,300, Property Tax $4,702.42, Repair and Maintenance $1,837(2024)
Location
Province AB
County Calgary
Area Cal Zone Cc
Zoning M-CG
Rooms
Basement Separate/Exterior Entry, Full, Suite
Interior
Heating Sep. HVAC Units, Separate Water Heaters, Forced Air, Natural Gas, See Remarks
Flooring Ceramic Tile, Hardwood
Inclusions A total of 4 Refrigerators, 4 electric Stoves, 2 Dishwashers, 2 washers, 2 Dryers, All Blinds, 2 Storage Sheds
Appliance Dishwasher, Dryer, Electric Stove, Refrigerator, Washer, Window Coverings
Exterior
Parking Features Alley Access, Off Street, On Street, See Remarks
Garage Description Alley Access, Off Street, On Street, See Remarks
Roof Type Asphalt Shingle
Porch Deck, Patio
Lot Frontage 49.97
Total Parking Spaces 4
Building
Building Description Vinyl Siding,Wood Frame, 2 storage sheds
Story 1
Foundation Poured Concrete
Architectural Style Attached-Side by Side, Bungalow
Level or Stories One
Structure Type Vinyl Siding,Wood Frame
Others
Restrictions None Known
Tax ID 95237937
Ownership Private