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4221 32 Avenue SW
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Calgary · Multi-family · under $4,050,000. Alerts only send when there are new or meaningfully updated matching homes.
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Defined by a level of quality and finish rarely seen in multi-family construction, this brand new 3-storey fourplex with legal basement suites (8 units total) is positioned on a corner lot along a tree-lined street in Glenbrook, offering a compelling opportunity for investors seeking a durable, design-forward asset built for long-term tenant retention.The upper units (approx. 1,758–1,788 sq ft) are intentionally configured to appeal to a broad tenant profile, featuring 3-bedroom layouts with dual primary suites plus an additional bedroom—ideal for professionals, families, and shared living. The third-floor primary retreat spans the entire level, showcasing vaulted ceilings, dual vanity, and a private balcony, while the main living space is anchored by a signature AHMC custom concrete surround gas fireplace, adding architectural presence.The legal 1-bedroom basement suites (approx. 647–660 sq ft) offer private rear entrances, large sunshine windows, and in-floor heat, creating bright, comfortable spaces well-suited for consistent occupancy and stable secondary income.A cohesive, elevated finish palette carries throughout, including hardwood flooring, quartz countertops, stainless steel appliances, and designer lighting and hardware. Upper units are further enhanced with air conditioning, exterior gas lines, pot filler upgrade, and European style tilt and turn windows with adjustable screens. The quality of construction and material selection is intended to minimize ongoing maintenance, supporting stronger long-term performance.Additional features include detached garage stalls (one per upper unit) with epoxy-finished floors, storage lockers, and rear bike storage, enhancing both functionality and tenant experience.Currently under construction with anticipated completion late 2026, this is a rare opportunity to secure a modern, low-maintenance investment in a highly desirable inner-city location, where design, livability, and long-term stability align. This combi nation of quality and location will have your tenants never wanting to leave. (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
-0.50%
Cap rate
4.76%
GRM
13.9
Break-even rent
$22,828
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.
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Monthly carrying costs (shared)
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. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
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Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 15, 2026.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.
Location of this listing. Distances are straight-line.
Key nearby — mosques, halal & Islamic schools
Mosque
1.7 km away
12.0 km away
12.1 km away
13.1 km away
Elementary
11.7 km away
Calgary Islamic School – Omar Bin Al-Khattab Campus
Islamic · K–9
11.7 km away
Calgary Islamic School – Akram Jomaa Campus
Islamic · K–9
13.0 km away
Halal grocery
Amir Halal Meats & Grocery
11.7 km away
Distances are straight-line (not drive time). Full neighbourhood intelligence (schools, transit, parks) builds automatically.