120 29 Av NW - Tuxedo Park Apartments 8 Unit Apartment Building Offered at $2,200,000 CAD at a 4.52% Cap Rate Calgary, AB T2M 2L8

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.