1324 1 Street SW, Calgary, AB T2R0V7 – A2270933 - Katie VanNes

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Katie VanNes

katie@mostreferred.expert +1(604) 855-8228

$ 4,300,000

Est. payment | -/mo

6,340 SqFt

Save

$ 4,300,000

Est. payment | -/mo

Save

6,340 SqFt

Key Details

Property Type Multi-Family

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Square Footage 6,340 sqft

Price per Sqft $678

Subdivision Beltline

MLS® Listing ID A2270933

Year Built 1909

Lot Size 5,252 Sqft

Acres 5252.79

Property Sub-Type Freehold

Source Calgary Real Estate Board

Property Description

This heritage building is property tax exempt! You pay NO property tax. A rare opportunity to own a beautiful 22-unit heritage building in the Beltline that has been restored. Built in 1909, it was extensively renovated in 2014 with everything done up to code, it's turn-key. Major upgrades in 2014 include brand new electrical, plumbing, sprinkler system, 2 boilers that will last decades, 2 hot water tanks, make up air unit, flooring, kitchens, bathrooms. Roof was done in 2017, with metal and bitumen that will also last decades. There are 24 security cameras throughout the building. Common laundry room with Coinmatic washer and dryer. 2 parking stalls at the back. These units are small, roughly 300sqft each, which makes for affordable rents. Under the CMHC MLI Select program there is excellent leverage available, buildings like this would qualify for a borrower to get into a property with as little as 5% down. Unit mix consists of 1 x 2 bed, 18 x 1 bed, and 3 x bachelor units. It's designated heritage which means there are grants with the City of Calgary for restoration and rehabilitation that will reimburse you up to 50% of the total approved project cost. *There is a government grant contract in place that requires rents to remain 10% below the CMHC benchmark for the Beltline; however, the rents are already well below that threshold. The new owner must get approved to take over this contract; it goes until 2034. This heritage building has lots of character and is easy to rent, tenants appreciate character buildings and the rents are affordable in the heart of downtown. (id:24570)

Location

Province AB

Rooms

Kitchen 0.0

Exterior

Parking Features No

View Y/N No

Total Parking Spaces 2

Private Pool No

Others

Ownership Freehold

Listed by Michael Fleming Realty Corp.

"Unlock the door to your dream home with Katie, where professionalism meets passion in the world of real estate. We don't just sell properties; we curate lifestyles. Let us guide you through the doorway to exceptional living, turning houses into homes and dreams into addresses. Your key to a brighter future starts here – because home is where the heart is, and we're here to help you find yours. Trust [Your Name] for a seamless journey to your next chapter. Welcome home!"

+1(604) 855-8228

katie@mostreferred.expert

202-15388 24th Avenue, Surrey, V4A, 2J2, Canada

1324 1 Street SW Calgary, AB T2R0V7