Introduction: One Market, Two Plays
Calgary and Edmonton are buzzing with real estate activity, and multi-family investors have two tempting options:
“Do I buy a modern new build in a trendy neighbourhood, or scoop up an older building and renovate it for strong cash flow?
This decision can define your strategy for the next 5 to 10 years.
So let’s compare them side by side, costs, rents, risks, and rewards, with a special focus on the Alberta advantage.
🧱 The Case for New Builds in Alberta
In the last five years, Calgary and Edmonton have seen an explosion in newly built duplexes, triplexes, and 4-plexes. Investors love them for their simplicity, design, and financing incentives.
✔️ Predictable Performance
- Lower vacancy rates
- Fewer repair emergencies
- Brand-new systems (furnace, roof, HVAC)
With a new build, you can budget with greater confidence, especially in the first 5–10 years.
💰 CMHC’s MLI Select Makes It Even Better
Did you know your new 4-plex in Calgary with energy-efficient heating and universal design features could qualify for:
- 95% LTV
- Reduced insurance premiums
- Amortization up to 50 years
That’s a game changer for investors trying to reduce monthly carrying costs.
💡 Modern Design Means Higher Rents
Today’s renters are willing to pay a premium for:
- Contemporary kitchens
- Air conditioning
- Secure entrances
- On-site parking
In new Calgary suburbs like Seton, Cornerstone, or Skyview Ranch, rents for new 4-plex units can exceed $1,800/month.
🏚️ The Case for Existing Multi-Family Buildings
Alberta’s inner cities are filled with charming mid-century buildings just waiting for a facelift. Many have solid bones and a huge upside.
🛠️ Value-Add = Forced Appreciation
You buy a 10-plex in Edmonton for $1.8M. Rents are $900/month. After some light renos, paint, appliances, and flooring, you raise rents to $1,150.
That $250/unit increase? It adds $500,000–$700,000 in value on paper.
That’s how you build wealth fast without waiting for the market to appreciate.
💸 Lower Barrier to Entry
You may find older 4-plexes for under $900,000 in parts of Edmonton and under $1.2M in Calgary, especially in older areas like Bowness, Dover, or Abbottsfield.
This makes it ideal for newer investors or partnerships pooling capital.
🧰 More Creative Control
You can design the renovation, pick the finishes, reposition the building, and shape the tenant base. That’s powerful when building a brand or vision.
🆚 Side-by-Side Recap: What Should You Choose?
| Feature | New Build | Existing Property |
| Initial Cost | Higher | Lower |
| Maintenance Needs | Minimal (for 5–10 years) | Higher, varies by age and condition |
| Rent Potential | High (modern finishes, appeal) | Medium (depends on upgrades) |
| Financing | CMHC MLI Select available | CMHC MLI Select for reno projects |
| Cash Flow | Often lower early on | Higher if bought and renovated smart |
| Investment Style | Passive, clean, turnkey | Hands-on, value-add, high ROI |
🏁 Final Word: Build New or Rebuild Old: Just Start Smart
Whether you go for the polished new build or the classic fixer-upper, what matters is that you know the numbers, understand your goals, and have the right support.
Green Casa Property Management works with both types of investors, helping manage new 4-plexes, 20-unit walk-ups, and everything in between. From tenant placement to maintenance and compliance, we’ve got your back.
