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Cliff Bungalow - SW Calgary Real Estate
The boundaries of Cliff Bungalow are formed by 17 Avenue to the north, Elbow Drive to the south, 4 Street to the east and 5A Street to the west. An interesting fact is that the name "Cliff Bungalow" was not applied to the community until the 1970s.
Transit
Bus route 433 was canceled at the end of 2010 and replaced by route 403 at the end of 2012. Busses travel along 4 Street SW. Just east across Macleod and just north on 7 Avenue SW the CTrain maintains routes which are easily accessible.
Parks & Recreation
Cliff Bungalow neighbors Earl Grey Park, a beautiful medium-sized green space perfect for residents. Located shortly south is Elbow Park, and west is Reader Rock Gardens, a large series of gardens created by the caretaker of the nearby Burnsland Cemetery in the 1920s.
The best shopping is located north along 19th Avenue and 17 Avenue SE, in terms of proximity. BCBG, Banana Republic, Aritzia, Club Monaco, Winners, Riley & McCormick, Melanie Lyne, Gios Collections For Men and the Chanel Boutique are just a few of the stores residents of Cliff Bungalow frequent. The Uptown Stage and Screen, as well as the Globe Cinema, provide entertainment in the same area as well.
Schools
● Earl Grey School
● Mount Royal Junior High School
● Western Canada High School
Houses of Worship
● Grace Presbyterian Church
● Anglican Church of Canada
● First Baptist Church
● Immanuel Church
Cliff Bungalow - SW Calgary MLS ® System Listings
521 22 Avenue SW - MLS® # A2114456
- Property Value $1,297,000
- Living Area 2,124 sq ft.
- Bedrooms 6
- Bathrooms 5
- Lot Size Area 4553.0 sqft
- Type Detached
- Style 2 Storey
- Basement Finished, Full
- Year Built 1911
Description
Prime Investment Opportunity with a 6.68% Cap Rate in the Mission / Cliff Bungalow District of Central SW Calgary - Moments from Starbucks and the Dynamic 4th Street Scene! Seize the chance to own a remarkable investment on a prime 37'x120' lot within Calgary's coveted Mission district. This well-maintained 5-plex, standing proudly on a scenic, tree-lined street, blends the vibrancy of urban living with the enchanting allure of its early 1900s origins. Skillfully converted into five illegal suites (four 1-bedroom and one 2-bedroom), this two-story building captivates with each unit's unique character, enhanced by modern amenities including a complete set of appliances (five refrigerators, five stoves, one dishwasher, and one combination washer/dryer, two washers & 1 dryer). Units #1, 3, 4, and 5 are being sold fully furnished, included in the sale price - you are ready for business! Recent renovations underscore the property’s commitment to quality and comfort, with new shingles installed in 2021 and the bathrooms in suites #1 and #2 completely remodeled in 2022, offering a contemporary living experience. Strategically situated, the property grants unbeatable access to the lively corridors of 17th Avenue and 4th Street SW, renowned for their rich assortment of dining, nightlife, and boutique shopping. It's a haven for those who thrive on an active lifestyle, with the MNP Community & Sport Centre and picturesque bike paths along the Elbow River just a stone's throw away. The convenience of biking or taking transit to downtown Calgary adds to this investment's allure. This investment shines with a robust 6.68% cap rate, underlining its status as a high-performing asset. Four of the five illegal suites have been operating as lucrative Airbnb short-term rentals, a testament to their consistent demand and the property's income-generating prowess. Currently, only 1 is operating as an AirBnB with the balance on long-term leases. In addition, four parking spaces at the rear enhance its attractiveness and functionality. Whether your goal is to bolster your rental portfolio with a property boasting a solid revenue history and recent upgrades or to explore future development possibilities on this versatile lot — be it constructing your dream home or a new multifamily unit — this opportunity is ripe with potential. Invest in a locale that offers both growth and a lifestyle that's hard to match.
521 22 Avenue SW, Calgary
Features
Private Entrance
Listing Provided By
eXp Realty
Last Updated
2024-03-28 14:40
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