Investor Special – 3 Rental Streams, Greenspace, and R-CG Zoning! Rare opportunity to own a 1,422 sqft bungalow—the lowest-priced home of this size in Calgary—backing onto a greenspace in the high-demand community of Penbrooke Meadows. This property delivers immediate and proven cash flow with 3 potential rental streams: a 3-bedroom main floor, a 3-bedroom illegal basement suite with separate entrance (previously rented for $1,800/month), and a converted garage with private entry (previously rented for $800/month). That’s up to 3 tenants and 3 rents—a true cash cow for investors. Need garage space? Easily convert the 7th bedroom back to a Single Attached Garage, or take advantage of the back alley access and build a Brand-New Double Detached Garage to increase future resale value. Already upgraded with City-approved copper wiring and electrical meter, LED lighting, newer windows, ceramic & luxury vinyl flooring, and a 4–5-year-old roof, this property is solid and low-maintenance. Even better, it sits on an R-CG zoned lot, opening the door to future redevelopment, legal suites, or increased density—ideal for long-term portfolio growth. Located close to schools, shopping, parks, and major commuter routes (17th Ave, Memorial, Stoney, and Deerfoot), it's perfectly positioned to attract reliable tenants year-round. Live in one unit and rent the rest, renovate and flip, or hold for steady appreciation and monthly income—this is an investor’s dream with built-in upside.
Address
632 55 Street SE
List Price
$518,888
Property Type
Residential
Type of Dwelling
Detached
Style of Home
Bungalow
Transaction Type
Sale
Area
Calgary E
Sub-Area
Penbrooke Meadows
Bedrooms
7
Bathrooms
3
Floor Area
1,422 Sq. Ft.
Lot Size
5198 Sq. Ft.
Year Built
1972
MLS® Number
A2242804
Listing Brokerage
CIR Realty
Basement Area
Separate/Exterior Entry, Finished, Full, Suite, Walk-Up To Grade
Postal Code
T2A 3R6
Zoning
R-CG
Site Influences
Back Lane, Backs on to Park/Green Space, Schools Nearby, Shopping Nearby, Park, Playground, Rectangular Lot, Sidewalks, Street Lights