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Descriptions:
Capitalize on this standout investment opportunity in downtown Calgary, strategically located on 7th Avenue near the C-Train station. This property, with a 32,000 square foot building including a basement, promises a substantial 30% cap rate facilitated by the CMHC MLI Select Program and is poised for transformation into 88 affordable housing units. This addresses a critical urban housing need and offers considerable social value.
We are at the final stage of securing the Development Permit, setting the stage for a swift project start. The property sits on a 12,658 square foot lot in a lively neighborhood filled with dining, shopping, and close to the tranquil Bow River Pathway. The financial viability of the renovation is significantly enhanced by the favorable mortgage insurance terms provided by the CMHC program, which boost cash flows and investment returns.
With just a 5% down payment required, investors can expect a rapid return on investment, typically within one year. Priced at $3.8 million, this building is not just a financial asset but a cornerstone in the community's affordable housing strategy.
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Status: |
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Active
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Includes: |
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N/A |
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Legal Description: |
ACCESS Legal Description |
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Location & Listing Info: |
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Neighbourhood: |
Downtown Commercial Core
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Lot Size: |
0.29
sq.ft.
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Property Info: |
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Property Type: |
Mixed Use |
Year Built: |
1973 |
Brokerage: |
Top Producer Realty and Property Management |
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Rooms: |
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Ensuite: |
No
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Garage: |
0
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Additional Info: |
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Fireplace Details: |
For Sale |
Total Parking: |
22
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Restrictions: |
Contact for Restrictions |
Restrictions: |
Call Lister
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Contact Cathy Gallagher -
100, 5810 - 2nd Street S.W., Calgary, Alberta, T2H 0H2
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The data included in this display is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board.
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The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board.
MLS®, Multiple Listing Service®, and the associated logos are all registered certification marks owned by CREA and are used to identify real estate services provided by brokers and salespersons who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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