Vivian Lee
(403) 499-8986
Top Producer Realty and Property Management
403-499-8986
1019 7 Avenue SW
Calgary , Alberta T2P1A8
Calgary , Alberta T2P1A8
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1019 7 Avenue SW For Sale
$3,690,000
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. Priced at $3.8 million, this building is not just a financial asset but a cornerstone in the community's affordable housing strategy.
Transaction Type
For Sale
For Sale
Title
Fee Simple
Fee Simple
Days On Market
150
150
Zoning
DC-99D2008
DC-99D2008
Subdivision
Downtown Commercial Core
Downtown Commercial Core
Building Type
Mixed Use
Mixed Use
Year Built
1973
1973
Structure Type
Mixed Use
Mixed Use
Property Type
Commercial
Commercial
Property Sub Type
Mixed Use
Mixed Use
Legal Plan
A1
A1
Building Area (Sq. Ft.)
32000.00
32000.00
Building Area (Sq. M.)
2972.87
2972.87
Lot Size (Sq. Ft.)
12658
12658
Lot Size (Acres)
0.29
0.29
Inclusions
N/A
N/A
Restrictions
Call Lister
Call Lister
Reports
Floor Plans
Floor Plans