1920 31 Street SW

Killarney/Glengarry · Killarney · Calgary · Multi-Family · MLS® A2348979

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About this property

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 acce ss 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.

Above grade

2,214 sq ftas filed on the MLS® record

The $/sq ft on this page uses the above-grade figure only, because that is what the sold record it is compared against uses. Developed area includes the basement and is not comparable to it.

The full record

MLS® number

A2348979

Property type

Multi-Family

Building type

Multi-Family

Ownership

Freehold

Floor area

2,214 sq ft

Year built

1979

Lot area

5,996 sq ft

$ per sq ft of lot

$267

Zoning

M-C1

Foundation

Poured Concrete

Construction

Poured concrete

Exterior finish

Concrete, Stucco

Heating

Forced air

Flooring

Vinyl

Parking

· 4 spaces

Appliances

Refrigerator, Range, Washer & Dryer

Features

Back lane

Land features

Landscaped, Lawn

Fencing

Partially fenced

Nearby

Playground, Schools, Shopping

Legal plan

5980AM

Listed on

2026-09-30

Days on market

16

Listing courtesy of eXp Realty · Kyle Dexter. Data from the CREA Data Distribution Facility (DDF®), refreshed 2026-10-16 09:37, deemed reliable but not guaranteed. View on REALTOR.ca