INCREDIBLE INVESTMENT OPPORTUNITY!
LEGAL DUPLEX WITH CITY-APPROVED BASEMENT SUITES (4 TOTAL UNITS)
Welcome to this exceptional investment opportunity in the friendly and welcoming community of Southview. Enjoying convenient access to the inner-city and downtown via 17 Ave SE and other parts of the city via the nearby Deerfoot Trail is a breeze. Plus, there are many transit options within walking distance including the BRT which offers a quick route downtown and to the Calgary Airport.
Within close proximity to numerous industrial parks and businesses makes this an ideal rental location, resulting in historically high occupancies and low vacancy rates - perfect for investors.
This well-maintained duplex property features 4 rentable units, each including 2 bedrooms and 1 full bathroom. The basement suites are 100% legal as approved by the City of Calgary, ensuring compliance with local regulations. Located on a full-sized 50 x 120 sq ft lot with MC-1 zoning, this property provides for various development possibilities in the future.
All the units have been exceptionally well-maintained and are spotlessly clean. Plus, each unit features its own in-suite laundry services; the upper units have stacking washer/dryers and the lower units have side by side washer/dryers. Each unit also comes fully equipped with an appliance package, window coverings, and a parking stall with power to plug in a vehicle.
For those seeking an investment opportunity, these properties are an excellent option for a "buy and hold" strategy, currently generating approximately $6,445 per month in revenue. Some of the rental rates mentioned below are currently under market value and present an opportunity to be increased in the future. The sellers have also employed a professional management company, and the existing contract can be seamlessly continued, offering peace of mind to investors.
RENTAL DETAILS:
2017 Upper: Rented until July 31, 2024 for $1,125 plus $220 utilities = Total Revenue $1,345/month
2017 Lower: Rented until Sept 30, 2024 for $1,460 plus $250 utilities = Total Revenue $1,710/month
2019 Upper: Rented until April 30, 2025 for $1,495 plus $245 utilities = Total Revenue $1,745/month
2019 Lower: Rented until March 31, 2025 for $1,400 plus $250 utilities = Total Revenue $1,650/month
THE VIBRANT COMMUNITY OF SOUTHVIEW
Welcome to the community of Southview, established in 1950 and located beside the Bow River, where you'll find a wide variety of amenities and attractions to suit every interest. From beautiful walking paths and breathtaking views of downtown to nearby golf courses, there's always something to do and see here.
Southview offers quick access to various pathways and other amenities along the Bow River. Plenty of sports facilities are within easy reach of the neighbourhood, and the Bow Water Canoe Club is within its boundaries. The area north of 17 Ave offers indoor and outdoor swimming pools and an outdoor skating rink, while other major local attractions include the Inglewood Bird Sanctuary and the Calgary Zoo. Local Southview schools include Bishop Kidd School, Patrick Airlie School, and Holy Trinity School.
There are excellent shopping and dining facilities nearby to this community. International Avenue offers plenty of shops and restaurants with gourmet cuisine from various countries, and the nearby 36 Street shopping area is home to Marlborough Mall, Pacific Place Mall, Walmart and IKEA. Plus, there are many transit options within walking distance including the BRT which offers a quick route downtown and to the Calgary Airport. Close proximity to numerous industrial parks and businesses makes this an ideal rental location, resulting in historically high occupancies and low vacancy rates - perfect for investors.
*Please note that property measurements are approximate and should not be relied upon without independent verification.
| Address | 2017 & 2019 36 Street SE |
| Sold Date | 08/04/2024 |
| Property Type | Multi-Family |
| Type of Dwelling | 4 plex |
| Area | Calgary E |
| Sub-Area | Southview |
| Floor Area | 1,700 Sq. Ft. |
| Lot Size | 5995 Sq. Ft. |
| Year Built | 1969 |
| MLS® Number | A2114505 |
| Listing Brokerage | RE/MAX House of Real Estate |
| Basement Area | See Remarks, Suite |
| Postal Code | T2B 0X7 |
| Zoning | M-C1 |