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632 55 Street Se Calgary, Alberta T2A 3R6

$518,888

MLS® Number: A2242804 Bedrooms: 7 Bathrooms: 3 Square Footage: 1422 sqft Community: Penbrooke Meadows
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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. (id:37074)

Property Features

Style: Bungalow Fireplace: Fireplace Cooling: None Heating: Forced Air

Property Details

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

Parking

Other
Parking Pad
See Remarks

Building

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 1,422 Ft2
Total Finished Area 1422.34 Sqft
Type House

Rooms

Level Type 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

Land

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.

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