1920 31 Street Sw, Calgary, Alberta T3E2M9

Property Description

Ideally located in the highly desirable inner-city community of Killarney, just steps from vibrant 17th Avenue, this exceptional 4-plex presents a rare investment opportunity with strong existing income and long-term rental appeal. The property features four fully self-contained units, each offering between 997–1,043 sq ft of well-designed living space complete with 3 bedrooms, 1 full bathroom, and convenient in-unit laundry. All units have been updated with durable vinyl plank flooring, creating a low-maintenance and modern finish that appeals to today’s tenants. Each suite is separately metered and equipped with its own furnace and hot water tank, allowing tenants to pay their own utilities while simplifying management and operating costs for ownership. The two upper units are enhanced by charming wood-burning fireplaces and sunny private balconies, while all residents enjoy access to outdoor backyard space and additional storage with the on-site shed. The property also includes four rear parking stalls—one assigned per unit—as well as ample street parking directly out front for guests and additional convenience. Recent concrete repair work surrounding the building has improved lot grading and drainage, helping protect the property and minimize future maintenance concerns. All four units are currently occupied with tenants on fixed-term leases, generating strong and stable rental income of $8,050 per month. Situated within walking distance to transit, schools, parks, and countless amenities, this prime location offers quick access 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 looking to expand your portfolio or secure a turnkey multi-family asset in a high-demand rental area, this is an outstanding opportunity with immediate cash flow and lasting investment potential.