Calgary Realtor

$1,599,999 · For Sale New Listing
1920 31 Street SW, Calgary, Alberta
2,214sq ft
5,996sq ft Lot
0Days on Market

About This Property

Ideally located in the highly desirable inner-city community of Killarney, just steps from vibrant 17th Avenue, this turnkey 4-plex offers the stability, upside, and value that serious investors look for. Stability comes first: all four units are 3-bedroom suites on fixed-term leases, a significant differentiator from the 2-bedroom units that make up much of the competing multi-family inventory. Larger layouts appeal to families, roommates, and long-term tenants, helping support consistent occupancy and dependable income. Each fully self-contained unit offers between 997–1,043 sq ft of well-designed living space with 3 bedrooms, 1 full bathroom, and in-unit laundry, and has been updated with durable vinyl plank flooring for a modern, low-maintenance finish. Every suite is separately metered with its own furnace and hot water tank, so tenants pay their own utilities, keeping operating costs predictable and management simple. The two upper units feature charming wood-burning fireplaces and sunny private balconies, while all residents enjoy outdoor backyard space and additional storage in the on-site shed. Four rear parking stalls provide one assigned stall per unit, with ample street parking out front for guests. Recent concrete repair work around the building has improved lot grading and drainage, protecting the property and minimizing future maintenance. The property currently generates $8,050 per month in rental income, averaging roughly $2,010 per unit, leaving clear upside as leases renew and rents move toward current market rates of $2,500+ for 3-bedroom units in the area, a meaningful opportunity to grow income without major capital investment. With updated units, separate utilities, recent exterior improvements, and all four units occupied, this is a turnkey, cash-flow-positive asset that lets a new owner step in with secure income from day one. Situated within walking distance of transit, schools, parks, and countless amenities, the location offers quick acce ss to downtown while being moments from the restaurants, cafés, boutiques, and nightlife that make 17th Avenue one of Calgary's most dynamic destinations. Whether you're expanding your portfolio or securing a multi-family asset in a high-demand rental area, this Killarney 4-plex delivers stable income today and lasting investment potential for tomorrow.

Key Features

  • Built in 1979
  • Multi-Family
  • Freehold
  • Forced air Heat
  • None

Property Details

Community Killarney/Glengarry
Property Type Multi-Family
Building Type Multi-Family
Year Built 1979
Ownership/Title Freehold
MLS® Number A2348979

Size & Land

Finished Area 2,214 sq ft
Land Size 5,996 sq ft Lot

Building Features

Heating Forced air
Cooling None
Foundation Poured Concrete

Parking

Parking Spaces 4

Financial & Other

Property Taxes $7,780/yr

Location

Click to interact with the map
Get Directions →

Map location is approximate.

Estimated Monthly Payment

$6,796/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.

  • Mortgage$6,796
  • Property tax$648
  • Estimated total$7,444/mo
Customize This Estimate →
Listing courtesy of eXp Realty · Calgary Real Estate Board
View on REALTOR.ca
ED
Evans Dobey
REALTOR® | CIR Realty

Get alerts for homes like this

Be first to know. I’ll email you when new listings match: Multi-Family Homes in Killarney/Glengarry, Calgary, $1.35M-$1.84M.

Powered by REALTOR.ca

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.

The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.