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301 46 Avenue SW
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Beds
—
Baths
—
Sqft
1,858
Year
1956
Type
Multi-family
On market
5d
Rare opportunity in sought-after Elboya. Situated on a prime 55' x 120' corner lot, this well-maintained legal triplex offers exceptional flexibility for investors, developers, and owner-occupiers alike. Whether you're looking to hold as a cash-flowing investment, explore redevelopment opportunities, or maximize density through future conversion, the possibilities here are endless. With similar corner parcels in the area currently being redeveloped, including an 8-unit project directly across the street, this property presents compelling long-term upside.Ideally located just minutes from downtown and within walking distance to Stanley Park, the Elbow River pathway system, Britannia Plaza, schools, parks, transit, and major commuter routes, this is one of Calgary's most desirable inner-city locations.The property consists of three well-maintained rental units with strong tenant appeal. Unit 303 occupies an entire side of the duplex and features an abundance of natural light, two spacious upper-level bedrooms, a generous living area, and a fully developed basement. Unit 301 has been thoughtfully configured into upper and lower suites, creating additional income potential. All units are well cared for, easily rentable, and offer attractive layouts for a wide range of tenants. Current occupants of Unit 303 have expressed interest in remaining, providing added stability for investors seeking immediate rental income.Financial information is available upon request. An outstanding opportunity to secure a revenue-generating property with significant future potential in one of Calgary's premier inner-city communities. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-0.85%
Cap rate
4.69%
GRM
13.9
Break-even rent
$6,149
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Rough ballpark only. Pick a down-payment option, then tap any underlined number below to plug in your real numbers — tax, condo fee, insurance, utilities. Total updates live. Confirm with a mortgage broker before writing an offer.
Cost lines (tax, condo, insurance, utilities) are editable inline above. These two control the mortgage payment math.
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Suite rental income depends on permits, market rent, and vacancy — confirm with a property manager. Always validate your scenario with a mortgage broker and your insurance provider before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 8, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Calgary. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.