For Sale: 423 3 Avenue NE, Calgary, AB - REW
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$2,499,000
0 bd • ba • 8000 sf • Multifamily
423 3 Avenue NE
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$2,499,000
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423 3 Avenue NECalgary, AB, T2E 0H7

Crescent Heights
  • 0 Bed
  • Bath
  • 8000 Sqft
  • Multifamily

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:63626)
Listed by: Scott Armstrong, Associate, RE/MAX Complete Realty

Home facts and features

Price details
List Price
$2,499,000
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Gross Taxes for 2026
$15,427
Home facts
Bedrooms
0
Full Bathrooms
Parking Spaces
10
Property Type
Multifamily
Lot Size
15 ft x 0 ft (5984 ft²)
Depth
Frontage
15.24 meters
Year Built
Built in 1979 (47 yrs old)
Title
Freehold
Exterior Finish
Concrete, Poured concrete
Heating Type
Natural gas
Features
Smoke Detectors
Community
Agent details
Primary Agent
Primary Broker
RE/MAX Complete Realty
Listing details
Days on REW
49 Days
Property Views
348
MLS® Number
A2348121
Source
Canadian Real Estate Association
Board
Calgary Real Estate Board
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25 Years
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3.99%

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Property Insights

Italian School Of Calgary
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  • In Catchment
St. Angela Elementary School
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Langevin School
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  • K - 9
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Stanley Jones School
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Alberta Chung Wah School
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Calgary Chinese Private School
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Crescent Heights High School
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Colonel MacLeod School
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Children's Village School
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Delta West Academy
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School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Scott Armstrong
Phone:
403-930-8555
Cell:
587-700-8748
Office:
403-930-8555
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