This 8-unit concrete apartment building in Tuxedo Park, comprising seven one-bedroom units and one studio, offers a rare turnkey investment with significant value-add potential. The property has undergone over $240,000 in recent capital improvements—including a new high-efficiency hydronic boiler, a full SBS membrane roof replacement, electrical upgrades, and building-envelope and security enhancements—ensuring that all major mechanical and structural work is complete. Currently operated as non-market housing, the asset sits significantly below inner-city market rates, providing immediate rental upside through unit-level cosmetic renovations. Situated just one block north of the future 28th Avenue Green Line LRT station and steps from the Centre Street MAX Green BRT corridor, the property features six energized parking stalls, shared laundry, and a current fire inspection on file, making it a premier transit-oriented acquisition.
Address
120 29 Avenue NW
List Price
$1,980,000
Property Type
Commercial
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Calgary CC
Sub-Area
Tuxedo Park
Lot Size
7491 Sq. Ft.
Year Built
1972
MLS® Number
A2310526
Listing Brokerage
REMAX Innovations
Postal Code
T2M2L8
Zoning
M-C1