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Investor Alert & Family Gem – Live In, Rent Out, or Flip! This home offers strong value compared to renovated homes in Penbrooke Meadows that have recently sold for around $650,000. Welcome to 632 55 St SE—a spacious 7-bedroom home offering exceptional income potential and redevelopment upside. Whether you're looking to build long-term wealth through rental cash flow or flip and resell for high profit, this is the kind of opportunity investors dream of. The main floor features a bright, open-concept layout with 3 bedrooms and 2 full bathrooms—ideal for family living or attracting quality tenants. Large windows let the sunlight pour in, creating a warm, inviting space that flows effortlessly from room to room. The fully finished basement includes a 3-bedroom illegal suite with a separate entrance, previously rented for $1,800/month—a proven income generator. The converted garage adds even more value as a 7th bedroom with a private entrance, also previously rented for $800/month. Prefer a garage instead? It can easily be converted back to a single attached garage. While many major upgrades have already been taken care of, a little TLC will go a long way—perfect for those looking to add value and boost returns. Recent Upgrades Include: Electrical wiring upgraded to Copper (City-inspected and approved), New electrical meter (City-inspected and approved), All new LED lighting throughout, Six windows replaced in the last 1–2 years, Ceramic & luxury vinyl plank flooring (installed approx. 1–2 years ago), Roof replaced approx. 4–5 years ago. Zoned R-CG = Even More Potential!! This highly flexible zoning allows for future development, legal suites, or increased density—ideal for forward-thinking investors. The sunny yard, mature trees, and Back Lane Access provide space to Build a Brand-New Double Detached Garage to further boost property value. Prime Location Situated close to schools, parks, shopping (Penbrooke Plaza), and offering fast access to 17th Ave, Memorial Drive, Stoney Trail, and Deerfoot Trail, this home is perfectly positioned to attract reliable tenants and maximize rental demand. Highlights: 7 total bedrooms, Fully separate basement suite, Converted garage = bonus income or easy garage conversion, Updated major systems: electrical, roof, flooring, windows, Zoned R-CG for redevelopment and expansion, Proven rental income + strong cash flow potential, Perfect for flipping or long-term holding. Whether you want to cash flow from day one, renovate and resell, or redevelop for greater upside, this property has the bones, location, and numbers to make it work. Don’t wait—book your private showing today and unlock the potential of 632 55 St SE! (id:37074)
| MLS® Number | A2242804 |
| Property Type | Single Family |
| Neigbourhood | Penbrooke Meadows |
| Community Name | Penbrooke Meadows |
| Amenities Near By | Park, Playground, Schools, Shopping |
| Features | Back Lane |
| Parking Space Total | 2 |
| Plan | 41lk |
| Other | |
| Parking Pad | |
| See Remarks |
| Bathroom Total | 3 |
| Bedrooms Above Ground | 4 |
| Bedrooms Below Ground | 3 |
| Bedrooms Total | 7 |
| Appliances | See Remarks |
| Architectural Style | Bungalow |
| Basement Development | Finished |
| Basement Features | Separate Entrance, Walk-up, Suite |
| Basement Type | Full (finished) |
| Constructed Date | 1972 |
| Construction Style Attachment | Detached |
| Cooling Type | None |
| Exterior Finish | Vinyl Siding |
| Fireplace Present | Yes |
| Fireplace Total | 1 |
| Flooring Type | Laminate, Other, Tile |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 1 |
| Size Interior | 1,188 Ft2 |
| Total Finished Area | 1187.58 Sqft |
| Type | House |
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Basement | Bedroom | 12.17 Ft x 9.83 Ft | ||
| Basement | Bedroom | 13.17 Ft x 10.50 Ft | ||
| Basement | Bedroom | 12.83 Ft x 12.92 Ft | ||
| Basement | Living Room | 16.92 Ft x 12.42 Ft | ||
| Basement | 4pc Bathroom | 9.25 Ft x 7.83 Ft | ||
| Basement | Kitchen | 12.25 Ft x 12.25 Ft | ||
| Basement | Furnace | 13.08 Ft x 9.58 Ft | ||
| Main Level | Primary Bedroom | 13.33 Ft x 11.67 Ft | ||
| Main Level | Bedroom | 11.25 Ft x 20.83 Ft | ||
| Main Level | Bedroom | 9.83 Ft x 10.42 Ft | ||
| Main Level | Kitchen | 13.83 Ft x 9.08 Ft | ||
| Main Level | 3pc Bathroom | 9.50 Ft x 2.83 Ft | ||
| Main Level | 4pc Bathroom | 13.08 Ft x 4.58 Ft | ||
| Main Level | Bedroom | 13.25 Ft x 8.17 Ft | ||
| Main Level | Dining Room | 13.83 Ft x 8.33 Ft | ||
| Main Level | Living Room | 13.33 Ft x 17.58 Ft |
| Acreage | No |
| Fence Type | Fence |
| Land Amenities | Park, Playground, Schools, Shopping |
| Size Depth | 9.29 M |
| Size Frontage | 4.83 M |
| Size Irregular | 5198.97 |
| Size Total | 5198.97 Sqft|4,051 - 7,250 Sqft |
| Size Total Text | 5198.97 Sqft|4,051 - 7,250 Sqft |
| Zoning Description | R-cg |
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Real Estate Data supplied by CREA®’s MLS® System. CREA® is the owner of the copyright in its MLS® System. Data deemed reliable but not guaranteed accurate by CREA®. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
