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Great Curb Appeal
Photo 1: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 2: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 3: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 4: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 5: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 6: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 7: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 8: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 9: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 10: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 11: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 12: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 13: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Photo 14: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
Status:
Active
Prop. Type:
Commercial
MLS® Num:
A2348121
Build. Type:
Walk-up
INVESTMENT OPPORTUNITY — 5.80% CAP RATE | 10-UNIT CONCRETE APARTMENT BUILDING, CRESCENT HEIGHTS Rare opportunity to acquire a stabilized, income-producing multifamily asset in one of Calgary's most established inner-city locations. This four-storey concrete-constructed building offers the durability, lower insurance profile, and long-term hold quality serious investors look for — concrete buildings of this size and location seldom come to market. The numbers: Offered at $2,499,000 ($249,900/unit). Gross scheduled income of $192,660 with a 2026 NOI of $144,898, delivering a 5.80% capitalization rate at asking price. The asset: 10 suites with an excellent, rent-friendly mix — six 1-bedroom, two 2-bedroom, and two 3-bedroom suites (16 bedrooms total) — a configuration that supports strong occupancy across market cycles. The building sits on a 50' × 125' lot zoned M-C2 in Crescent Heights, minutes to downtown, Bridgeland, and the Bow River pathway system. Includes 10 surface parking stalls and 10 tenant storage lockers. Professionally managed, with financial statements and rent roll available to qualified buyers upon request. Well-located, well-built, and priced at a cap rate that stands out in the current Calgary multifamily market. This is a long-term hold asset for an investor seeking stable inner-city income with a concrete building's peace of mind.
Property Type:
Commercial
Property Sub Type:
Multi Family
Transaction Type:
For Sale
Possession:
Negotiable
Possession Date:
Dec 01, 2026
Building Type:
Walk-up
Total Building Area:
8,000 sq. ft.
Taxes:
$15,427 / 2026
Tax Assessed Value:
$2,320,000
Lot Area:
5,984 sq. ft.
Lot Frontage:
50'
Year built:
1979 (Age: 47)
Bathrooms:
- (Full:-, Half:-)
Plan:
1332N
Heating:
Boiler, Natural Gas
Foundation:
Piling(s), Poured Concrete
Construction Material:
Concrete
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle, Membrane
Ensuite:
No
Cooling:
None
Garage:
No
Parking Places:
10
Energized Pkg:
10
Parking Total/Covered:
10 / -
Assigned Pkg:
10
Northeast
Crescent Heights
10 refrigerators, 10 electric stoves, 10 hood fans, 2 washing machines, and 2 dryers.
None Known
Title to Land:
Fee Simple
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Sep 25, 2026
Days on Mkt:
46
  • Photo 1: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    Great Curb Appeal
  • Photo 2: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    Exterior Back Lane
  • Photo 3: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    Kitchen
  • Photo 4: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    Kitchen
  • Photo 5: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    Large living room
  • Photo 6: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    Living room den space
  • Photo 7: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    November 2025
  • Photo 8: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
    Very bright
  • Photo 9: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
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  • Photo 10: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
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  • Photo 11: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
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  • Photo 14: 423 3 Avenue NE in Calgary: Crescent Heights Multi Family for sale : MLS®# A2348121
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Listed by RE/MAX Complete Realty
Data was last updated November 10, 2026 at 04:05 PM (UTC)
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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