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 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 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.
Property Details
Price:
$1,599,999
MLS #:
A2348979
Status:
Active
Baths:
0
Type:
Multi Family
Subtype:
4 plex
Subdivision:
Killarney/Glengarry
Listed Date:
Sep 30, 2026
Finished Sq Ft:
2,214
Lot Size:
5,995 sqft / 0.14 acres (approx)
Year Built:
1979
See this Listing
Schools
Interior
Appliances
Range, Refrigerator, Washer/Dryer
Laundry Features
In Unit
Exterior
Exterior Features
Lighting, Private Yard, Storage
Lot Features
Back Lane, Back Yard, Landscaped, Lawn
Parking Total
4
Roof
Asphalt Shingle
Financial
Map
Community
- Address1920 31 Street SW Calgary AB
- SubdivisionKillarney/Glengarry
- CityCalgary
- CountyCalgary
- Zip CodeT3E2M9
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Market Summary
Current real estate data for Multi Family in Calgary as of Oct 04, 2026
29
Multi Family Listed
93
Avg DOM
590
Avg $ / SqFt
$2,644,155
Avg List Price
Property Summary
- Located in the Killarney/Glengarry subdivision, 1920 31 Street SW Calgary AB is a Multi Family for sale in Calgary, AB, T3E2M9. It is listed for $1,599,999 To schedule a showing of MLS#a2348979 at 1920 31 Street SW in Calgary, AB, contact your Rob Johnstone agent at (403) 730-2330 .
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1920 31 Street SW
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