1019 7 Avenue Sw, Calgary, Alberta

$3,690,000

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0.29

Acres

About 1019 7 Avenue Sw

Capitalize on this standout investment opportunity in downtown Calgary, strategically located on 7th Avenue near the C-Train station. This property, with a 32,000 square foot building including a basement, promises a substantial 30% cap rate facilitated by the CMHC MLI Select Program and is poised for transformation into 88 affordable housing units. This addresses a critical urban housing need and offers considerable social value. We are at the final stage of securing the Development Permit, setting the stage for a swift project start. The property sits on a 12,658 square foot lot in a lively neighborhood filled with dining, shopping, and close to the tranquil Bow River Pathway. The financial viability of the renovation is significantly enhanced by the favorable mortgage insurance terms provided by the CMHC program, which boost cash flows and investment returns. With just a 5% down payment required, investors can expect a rapid return on investment, typically within one year.

Features of 1019 7 Avenue Sw

MLS® # A2096764
Price $3,690,000
Bathrooms 0.00
Acres 0.29
Year Built 1973
Type Commercial
Sub-Type Mixed Use
Status Active

Community Information

Address 1019 7 Avenue Sw
Subdivision Downtown Commercial Core
City Calgary
County Calgary
Province Alberta
Postal Code T2P1A8

Amenities

Parking Spaces 22
Is Waterfront No
Has Pool No

Interior

Fireplace No
Has Basement No

Additional Information

Date Listed December 7th, 2023
Days on Market 164
Zoning DC-99D2008
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeTop Producer Realty and Property Management

Listing Map

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