423 3 Avenue Northeast
Crescent Heights, Calgary, Alberta T2E0H7
$2,499,000
Listed by RE/MAX Complete Realty
MLS® A2348121
- Living area
- 8,000 sq ft
- Type
- Multi-Family
- Built
- 1979
About this property
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:67740)
Property details
Building
| Structure | Multi-Family |
|---|---|
| Property type | Multi-family |
| Ownership | Freehold |
| Year built | 1979 |
| Construction | Poured concrete |
| Foundation | Piled, Poured Concrete |
Interior
| Above grade finished area | 8,000 square feet |
|---|---|
| Heating | Natural gas |
| Cooling | None |
| Security | Smoke Detectors |
Lot & exterior
| Lot size | 5,984.73 square feet |
|---|---|
| Lot dimensions | 5984.73 |
| Exterior | Concrete |
| Zoning description | M-C2 |
Parking
| Parking spaces | 10 |
|---|
Fees & taxes
| Annual property taxes | $15,427 |
|---|---|
| Tax year | 2026 |
Location
Map location is approximate. Open larger map
Listing brokerage: RE/MAX Complete Realty
Listing data last updated November 3, 2026 10:48 pm.
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