INCREDIBLE INVESTMENT OPPORTUNITY!
LEGAL DUPLEX WITH CITY APPROVED BASEMENT SUITES (4 TOTAL UNITS)
Welcome to this exceptional investment opportunity in a great location. This well maintained 4-plex is conveniently located in the vibrant community of Mayland Heights, perfectly situated just 10 mins from downtown. Enjoy quick and easy access to public transit with a bus station right outside the front door. Plus, the home is easily connected to Calgary's bike pathway system through the Zoo pathway, and is only a 15 minute drive to the Calgary International Airport. Various shopping options and major roadways are moments away, making it effortless to navigate the city. An additional highlight of this property is the breathtaking views of downtown Calgary and the majestic mountains, making it an attractive choice for both investors and residents alike.
Stripped to the studs and completely renovated in 2007, this property was outfitted with new electrical, new furnaces, new windows, and a new stucco exterior. 4 brand new kitchens were installed, featuring high quality maple cabinets and granite countertops, and new bathrooms were outfitted with deep soaker tubs, tub surrounds, and modern durable natural slate flooring. Original hardwood floors were refinished and new engineered hardwood installed on the main floor. Additional updates have been ongoing since, including a new roof in 2013, 2 new hot water tanks in 2019, basement sprinklers added in 2020 for additional safety, and some carpets replaced in 2021. Each side of the duplex has been impeccably maintained and features its own washer/dryer set.
This property features 100 % legal basement suites, as approved by the City of Calgary, and is situated on a spacious corner lot zoned M-CG d72, which provides various development possibilities. The sellers have employed a professional management company, and the existing contract can be seamlessly continued, offering peace of mind to investors.
For those seeking an investment opportunity, these properties are an excellent option for a "buy and hold" strategy, currently generating approximately $4,700 per month in revenue. The rental rates outlined below are below current market value and present an opportunity to be increased in the future.
RENTAL BREAKDOWN:
1802 Upper: Rented until Dec 31, 2023 at $1,155/month plus $245 utilities. Total Revenue: $1,400/Month
1802 Lower: Rented until May 31, 2024 at $1,020/month plus $230 utilities. Total Revenue: $1,250/Month
1804 Upper: Rented until Feb 29, 2024 at $995/month. Tenant pays own utilities. Total revenue: $995/Month
1804 Lower: Rented until Aug 31, 2024 at $1,100/month (parking included). Tenant pays own utilities. Total revenue: $1,100
THE VIBRANT COMMUNITY OF MAYLAND HEIGHTS
Situated just 10 mins from the Downtown Core, 15 Mins to the Calgary Airport, and offering numerous public transit options, Mayland Heights is perfectly located near all kinds of parks, schools, shops, and amenities. The community is also part of the Crossroads Community Association which offers a variety of programs and amenities to suit every interest.
Nearby, Bottomland Park offers a baseball diamond and great trails for walking, jogging running and biking. Right next to it is the modern science museum TELUS Spark. Residents also have quick access to the Nose Creek pedestrian pathways and the Bow River and Elbow River recreational pathways, offering scenic a landscape and relaxed setting for endless hours of leisurely walking or biking. Golf lovers will appreciate the close proximity to McCall Lake Golf Course.
Families can choose from three public schools including Mayland Heights Elementary, Belfast Elementary and Sir John Franklin Junior High or two private schools including The Khalsa School Calgary Educational Foundation School and Columbia College.
Convenience is key when living in Mayland Heights. Shops, cafes and restaurants in downtown Calgary as well as 17 Avenue are just a short drive or train ride away. And if you're looking for more, Chinook Mall and Market Mall are both about a 20 minutes drive. For those not wanting to drive, there are 5 LRT train stations nearby making transit into the city's core a breeze.
*Please note that property measurements are approximate and should not be relied upon without independent verification.
