Concrete construction, strong in-place income, and MC-2 zoning combine to make this a rare multifamily opportunity in Crescent Heights. This well-maintained four-storey walk-up offers 10 bright, above-grade suites, each with a Juliet balcony and excellent natural light. The desirable unit mix includes six 1-bedrooms, two 2-bedrooms, and two 3-bedroom apartments, with the 3-bedroom units featuring both a four-piece main bath and a two-piece ensuite.Recent upgrades—including refreshed hallway flooring and new steel doors and frames—enhance durability and presentation, while the concrete structure provides long-term performance and superior sound attenuation. Residents benefit from 10 energized, assigned parking stalls and 10 secure storage lockers, supporting stable occupancy and strong tenant appeal.With $192,660 in current annual income and a 2026 NOI of $144,898, this asset delivers reliable cash flow today and meaningful upside through interior modernization. The 50 ft x 125 ft lot and MC-2 zoning also support future redevelopment potential in one of Calgary’s most sought-after rental corridors. A clean, well-managed building with no deferred maintenance—ideal for investors seeking both stability and long-term value. (id:55174)
| MLS® Number | A2348121 |
| Property Type | Multi-family |
| Community Name | Crescent Heights |
| Parking Space Total | 10 |
| Plan | 1332n |
| Constructed Date | 1979 |
| Construction Material | Poured Concrete |
| Cooling Type | None |
| Exterior Finish | Concrete |
| Fire Protection | Smoke Detectors |
| Foundation Type | Piled, Poured Concrete |
| Heating Fuel | Natural Gas |
| Size Exterior | 8000 Sqft |
| Size Interior | 8,000 Sqft |
| Total Finished Area | 8000 Sqft |
| Type | Multi-family |
| Acreage | No |
| Size Depth | 38.1 M |
| Size Frontage | 15.24 M |
| Size Irregular | 5984.73 |
| Size Total | 5984.73 Sqft|4,051 - 7,250 Sqft |
| Size Total Text | 5984.73 Sqft|4,051 - 7,250 Sqft |
| Zoning Description | M-c2 |
https://www.realtor.ca/real-estate/30327853/423-3-avenue-ne-calgary-crescent-heights
Contact us for more information
Scott Armstrong
Associate
(403) 930-8555
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