120 29 Ave - Apartments FOR SALE


Calgary, AB T2M 2L8- Suburban North
$1,980,000 CAD
825-425-5131
120 29 Ave, Calgary, AB for Sale
$1,980,000 CAD
Apartments - FOR SALE
1/24
null | 5.02% Cap Rate

120 29 Ave
Calgary, AB T2M 2L8
Suburban North


OVERVIEW

This 8-unit concrete apartment building in Tuxedo Park, comprising seven one-bedroom units and one studio, offers a rare turnkey investment with significant value-add potential. The property has undergone over $240,000 in recent capital improvements—including a new high-efficiency hydronic boiler, a full SBS membrane roof replacement, electrical upgrades, and building-envelope and security enhancements—ensuring that all major mechanical and structural work is complete. Currently operated as non-market housing, the asset sits significantly below inner-city market rates, providing immediate rental upside through unit-level cosmetic renovations. Situated just one block north of the future 28th Avenue Green Line LRT station and steps from the Centre Street MAX Green BRT corridor, the property features six energized parking stalls, shared laundry, and a current fire inspection on file, making it a premier transit-oriented acquisition.

FOR SALE DETAILS

PRICE

$1,980,000 CAD

PRICE/SF

$392 CAD /SF

# OF UNITS

8

PRICE/UNIT

$247,500

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,492 SF

ZONING

M-C1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Miki SomosRE/MAX Real Estate (Central)More Info
825-425-5131

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Miki SomosRE/MAX Real Estate (Central)More Info
825-425-5131

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.