2004 1 Avenue Nw Calgary, Alberta t2n 0b3

17688 sqft


Located just a few steps from Kensington Road NW, this well designed building has 10 residential units, (4 two beds, 6 one beds). main floor has two street level retail units fully leased out. Second floor is undeveloped and currently designated as commercial space. It could be developed into 5 more residential units with the same floor plans as the above two floors. there is one elevator and 10 underground parking stalls. lots of street parking and great walk score. Current retail leases are long term and residential units are fully leased. Current Gross Revenue is $357,500 . Current Total costs are $97,500 per year. Current NOI is $260,000. NOI with second floor developed is $370,110 and has a price tag of about $750,000 and requires about 6 months. CAP rate with second floor developed is 5.5%. ($370,110/$6,750,000=5.5%) (id:42493)

Property Details

MLS® Number A2017461
Property Type Multi-family
Neigbourhood West Hillhurst
Community Name West Hillhurst
Plan 2554ac


Constructed Date 2020
Size Exterior 17688 Sqft
Size Interior 17688 Sqft
Total Finished Area 17688 Sqft
Type Multi-family


Acreage No
Size Irregular 562.00
Size Total 562 M2|4,051 - 7,250 Sqft
Size Total Text 562 M2|4,051 - 7,250 Sqft
Zoning Description M-x1



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