423 3 Avenue NE

About this home

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:67720)

Home details

Property type

Multi-family

Living area

8,000 sq. ft.

Building type

Multi-Family

Year built

1979

Heating

Natural gas

Cooling

None

Parking spaces

10

Exterior

Poured concrete

Lot dimensions

5984.73

Zoning

M-C2

Title

Freehold

Lot size

5,984.73 square feet

Property taxes

$15,427 (2026)

MLS® number

A2348121

MLS® A2348121 · Listed by RE/MAX Complete Realty · Information updated Oct 31, 2:02 a.m.

Location

Living in Crescent Heights

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