Calgary Realtor

$12,499,999 · For Sale
1651 8 Avenue NW, Calgary, Alberta
24,086sq ft
1,653m² Lot
68Days on Market

About This Property

Urban Gardens – Rare 23-Unit Offering in Prime Hillhurst LocationExceptional opportunity to acquire a high-performing, purpose-built multi-unit property in the heart of Hillhurst. Located just a few blocks from Kensington, Riley Park, SAIT, and with direct access to downtown Calgary, Urban Gardens offers long-term stability and strong tenant appeal in one of Calgary's most sought-after inner-city neighbourhoods.This thoughtfully designed development includes a total of 23 units:12 four-storey townhomes, each featuring:3 bedrooms (most with ensuite bathrooms)Private balconies11 legal basement suites (one per townhome)11 titled private garagesBuilt with tenant comfort in mind, the majority of the townhomes feature ensuite bathrooms for each bedroom, modern open-concept layouts, and private outdoor living spaces. The property is centered around a beautifully landscaped communal courtyard with a community garden, fostering a sense of community while enhancing curb appeal.Fully leased and generating positive cash flow, Urban Gardens offers investors immediate, stabilized income in one of Calgary's premier rental markets. Strong location fundamentals support both consistent occupancy and long-term appreciation, with residents enjoying walkable access to Kensington, SAIT, Riley Park, downtown Calgary, transit, shopping, restaurants, schools, and recreational amenities.A significant investment advantage is the existing assumable CMHC-insured mortgage at 3.729%, maturing December 1, 2030 (subject to lender and CMHC approval). This below-market financing presents a rare opportunity for qualified purchasers to secure favourable debt, enhancing cash flow and reducing financing costs while acquiring a stabilized, income-producing asset.Rarely do stabilized, purpose-built multifamily assets with assumable CMHC financing become available in Calgary's premier inner-city market. Urban Gardens represents an exceptional opportunity for private investors, family o ffices, and institutional buyers seeking immediate cash flow, long-term appreciation, and attractive in-place financing.

Key Features

  • Built in 2021
  • Multi-Family
  • Freehold
  • Natural gas Heat
  • Central air conditioning

Property Details

Community Hillhurst
Property Type Multi-family
Building Type Multi-Family
Storeys 3
Year Built 2021
Ownership/Title Freehold
MLS® Number A2330220

Size & Land

Finished Area 24,086 sq ft
Land Size 1,653 m² Lot

Building Features

Heating Natural gas
Cooling Central air conditioning
Foundation Poured Concrete

Parking

Parking Spaces 23

Financial & Other

Property Taxes $62,176/yr

Location

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Map location is approximate.

Estimated Monthly Payment

$53,091/mo

Based on 20% down, a 4.09% rate and 25-year amortization. Your actual payment will depend on your rate, down payment, and lender.

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Listing courtesy of Royal LePage Solutions · Calgary Real Estate Board
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Evans Dobey
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