South Calgary Multi Family (Commercial) for sale: (Listed 2020-08-20)

Overview

Data was last updated 2020-09-27 at 07:54:18AM UTC

1610 28 Avenue SW, Calgary, Alberta

MLS®#: A1025880
Please turn on Javascript.
NONE
  • Property Value$1,799,000
  • Property Address1610 28 Avenue SW, Calgary, Alberta, T2T 1J4, Canada
  • TypeMulti Family (Commercial)
  • Year Built1960
  • Lot Size Area10,925 sq.ft.

South Calgary

1610 28 Avenue SW, Calgary, Alberta, T2T 1J4, Canada

Description

5% CAP RATE IN THIS MARKET! Still potential to bump up rents - THIS PROPERTY GENERATES $9630.00/month!! 9 units(6-1beds and 3-2beds) with a massive 1400 square foot unit that used to be the owner's suite. Roof, Windows and Boiler all renovated within the last 8 years. Also great opportunity for redevelopment down the road as it sits on a whopping 87.5 x 125 foot lot with a MC-1 zoning. 9 Parking stalls plus a garage for additional revenue. Opportunities like this rarely come on the market - great cash flow for holding or renovate/flip/bump up cash flow and potential re development. Please see below for breakdown of expenses:

$760/month - property taxes
$404.37/month - insurance (probably can be lowered, current owner probably paying double what he should)
$900/month - main area utilities/Enmax
$160/month - waste disposal

Total NOI: $7,405.63/month or $88,867.56 Annually

Listing Provided By

RE/MAX HOUSE OF REAL ESTATE

 Real Estate Listing provided by
  • RE/MAX HOUSE OF REAL ESTATE
  • 50, 55 CASTLERIDGE BLVD. N.E.
  • Calgary, AB
  • T3J 3J8