Property Details

  • ADDRESS 1812 26 Avenue SW, Calgary, AB
  • YEAR BUILT 1956
  • LEVELS 3 Storeys + Basement
  • TOTAL UNITS 22 Units
  • LOT SIZE ±11,934 SF
  • PARKING 12 Surface Stalls
  • LAUNDRY Coin-Operated (On-Site)
  • PROPERTY TYPE Multifamily Low-Rise

Executive Summary

Jennifer Apartments presents a compelling value-add investment opportunity in Calgary’s highly desirable Bankview community, one of the city’s most established inner-city neighbourhoods.

Built in 1956, this 22-unit apartment building sits on an 11,934 SF site and offers a suite mix of 20 bachelor suites, 1 one-bedroom suite, and 1 non-conforming two-bedroom suite located in the lower level. The property is currently operating below market rents, presenting immediate upside for a new owner.

The investment thesis centers on bringing in-place rents to market, activating ancillary revenue streams such as on-site coin-operated laundry and surface parking that are not currently being charged for, and unlocking the value of underutilized basement space.

With straightforward operational upside and a location minutes from 17th Avenue SW, Marda Loop, and downtown Calgary, Jennifer Apartments offers an attractive entry point into one of Calgary’s strongest rental submarkets.

Investment Highlights

» Below-Market In-Place Rents: Current average rent of $1,007/unit sits meaningfully below average market rent of $1,166/unit, offering a clear path to NOI growth through lease turnover alone.

» Untapped Ancillary Income: On-site coin-operated laundry and surface parking stalls are not currently generating revenue, representing immediate, low-effort income opportunities for a new owner.

» Underutilized Basement Space: The lower level is only partially used as a tenant suite, with the remainder serving as a workshop, offering potential to reconfigure for additional rentable area.
» Prime Inner-City Location: Located in Bankview, just minutes from 17th Avenue SW, Marda Loop, and downtown Calgary, with strong, consistent rental demand from an urban tenant base.

» Minimal Capital Requirements: Boiler was serviced within the past 24 months and a new hot water tank was installed in 2021, limiting near-term capital exposure for a new owner.

» Operational Efficiency Upside: Professional property management and streamlined operations, under the projected proforma, support margin improvement alongside topline rental growth.

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Brochure - Jennifer Apartments - 1812 26 Avenue SW

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Team

Zohair Saleem
Zohair Saleem
Associate | Investment Sales
403-404-6591

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