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Calgary 79-suite rental apartment building sells for $36.8 million

Brand new six-storey multi-family property, located next to Riley Park and near Calgary’s Sunnyside LRT station, sold for $491,239 per door at a 4.4 per cent cap rate
Goodman Commercial, Vancouver, for Western Investor
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Goodman Commercial, Vancouver, for Western Investor

Property type: Multi-family rental building

Location: 1124 5th Avenue Northwest, Calgary

Number of units: 79

Property size: 64,008 square feet (net rentable)

Year built: 2021

Lot size: 26,231 square feet

Zoning: DC Multi-residential

Date of sale: May 25, 2022

Sale price: $36.8 million

Brokerage: Goodman Commercial,  Vancouver

Brokers: Manraj Dosanjh, Mark Goodman and Cynthia Jagger