$2,499,000
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423 3 Avenue Ne, Calgary, AB T2E 0H7

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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.

Listing By: Scott Armstrong - RE/MAX Complete Realty cnpilar Realty.com
  • MLS® A2348121
  • Date Listed09/25/2026
  • Days on Realty 41 Days
  • Bedrooms -
  • Bathrooms
  • Lot Size 0.14 acres (5,984 sq. ft)
  • Subdivision Crescent Heights
  • County Calgary
  • Year Built 1979

Interior Features

  • Cooling None
  • Heating Boiler, Natural Gas

Exterior / Lot Features

  • Roof Shingle, Membrane
  • Lot Size Acres 0.14
  • Lot Size SQFT 5,984.00
  • Lot Features -

Sales & Tax History

Source: Public Records

Local Neighborhood Highlights for T2E 0H7

Discover key demographics, population statistics, and environmental insights for the Calgary, AB area.

Walkability in AB / T2E 0H7

Source: Walk Score

90/100

Walker's Paradise

Walk Score ®

53/100

Good Transit

Transit Score ®

78/100

Very Bikeable

Bike Score ®

Overview

Daily errands do not require a car. Many nearby public transportation options. Biking is convenient for most trips.

Transit Summary

21 nearby routes: 21 bus, 0 rail, 0 other

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 63/100, Transit Score: 52/100, Bike Score: 74/100.

Points of Interest near 423 3 Avenue NE, Calgary, AB T2E 0H7

Frequently Asked Questions for 423 3 Avenue NE

Source: Realty.com

423 3 Avenue NE, Calgary, AB T2E 0H7 in Crescent Heights, Calgary, AB T2E 0H7 is a multi family listed at $2,499,000. Highlights include built in 1979, 0.14 acre lot. Realty.ca has 14 photos, sales history, school insights, and mortgage tools for this listing.

Realty.com has 14 photos of 423 3 Avenue NE.

Our records indicate that 423 3 Avenue NE was built in 1979.

The full address for this home is 423 3 Avenue NE, Calgary, AB T2E 0H7.

423 3 Avenue NE has been listed on Realty.com since Fri September 25, 2026

Daily errands do not require a car. Many nearby public transportation options. Biking is convenient for most trips.

The average walkability score in the surrounding area is Walk Score: 63/100, Transit Score: 52/100, Bike Score: 74/100.

Listing provided courtesy of: RE/MAX Complete Realty (tel: 403-930-8555)
Listing agent: Scott Armstrong (tel: 587-700-8748)

This content last refreshed on 2026-11-05 10:45:16. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.