Real Estate Blog

Wow! This is a remarkable find! Just listed is a very rare opportunity for developers, investors, or those looking to generate supplemental income to subsidize their mortgage payments. Welcome to a spacious 1,382 sqft bi-level with a total of four bedrooms, situated on a massive 53x120 R-C1 lot in the heart of Montgomery. Montgomery is known as one of the most progressive rebuilding infill areas in all of northwest Calgary!

The lower level features an illegal but self-contained and spacious 1,067 sqft two-bedroom suite with large windows and a separate walk-out entrance. It includes two forced-air furnaces and two hot water tanks. As a bonus, there is a massive triple-car garage, along with two additional parking stalls in the front and back!

While the interior of the house requires some cosmetic TLC, it is well worth the effort. The current tenants have resided there for over 24 years, and the rents are currently low. As of May 1, 2024, the upstairs rent will be $1,125/month plus utilities, while the lower rent will be $850/month plus utilities. Both tenants are on a month-to-month tenancy, and the utilities are paid by the landlord and reimbursed by the tenants.

The seller discloses that there was a flood in the lower level a number of years ago caused by a city water main break, but everything has been repaired since then. The property is located in a very quiet area, a short walk to Shouldice Park and Pool, as well as the Bow River and Bowmont Off-Leash Park. It is close to all amenities, with easy access west to the mountains and a short commute to downtown.

This is a fantastic holding property for future development or to live in and subsidize your mortgage payments. Don't wait too long; this opportunity won't last!