INVESTOR ALERT! OR Live in One Unit for yourself and Rent Three Units to pay off your mortgage, utilities and insurance. Opportunity knocks with this great purpose-built LEGAL FOURPLEX in Bowness! It is MC-1 Zoning Calgary which allows you to develop 3-4 story apartment buildings when you are ready to develop. Until such development, this property generates a great cash flow for your passive income. The property is consisting of 2 upper units with 3 Bedrooms + 2 lower units with 2 Bedrooms. Each unit is separately metered, has in-suite laundry and parking in the rear. New windows, flooring and paint in the upper NE unit (see pictures & virtual tour). Upper units have balconies and overlook the park across the street. The property currently generates over $37k annually, with room to improve once the fourth unit rents out. It used to generate over $55k annually. It is very easy to find a tenant in this area. A simple "rent sign" on the window has attracted many inquiries and phone calls. Minutes to many amenities, transit, shops, grocery store, gas station, parks and schools. Solid building in an excellent long-term hold location. Don't miss out on this fantastic property with tons of upside. (id:21083) Back
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