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$540,000
Alberta,Calgary
For Sale Active
2232 42 Street SE, Calgary, Alberta T2B1G5
  • 3
  • 2
  • 951 Sqft
Basic Details
Description

REGISTERED LEGAL BASEMENT SUITE | $3, 000 MONTHLY RENTAL INCOME | DOUBLE DETACHED GARAGE. Located in Forest Lawn, an established community experiencing significant redevelopment, this income-producing property offers an excellent opportunity to collect rental income while holding a substantial parcel of land for the future. Built in 1910, this character home features two self-contained living spaces, both currently rented, generating

a combined $3, 000 per month, including utilities. Both tenants are on month-to-month tenancies, great tenants that take excellent care of the property, and would prefer to remain. MAJOR STRUCTURAL AND MECHANICAL IMPROVEMENTS: The foundation and basement were reinforced and rebuilt with a new concrete basement by a previous owner in the 1960s. During the current owner’s 10 years of ownership, significant upgrades have been completed, including a new roof, new basement windows, new furnace, new hot water tank, and new appliances, all within approximately the past five years. The BRIGHT MAIN/UPPER RESIDENCE offers large windows providing abundant natural light, a spacious main-floor bedroom, a second bedroom in the upper loft with lower ceiling height, one full bathroom, a generous living area, and a fully equipped kitchen. The CITY OF CALGARY REGISTERED LEGAL BASEMENT SUITE features a separate private entrance, one bedroom, one full bathroom, a bright living area with large legal windows, a fully equipped kitchen with stove, range hood, refrigerator and dishwasher, plus its own full-size washer and dryer. The property also offers a WEST-FACING BACKYARD, double detached garage with wall-mounted wooden workbenches, and two exterior storage sheds, providing additional storage for both households. EXCELLENT LOCATION AND ACCESSIBILITY: Convenient access to 17 Avenue SE (International Avenue), shopping, grocery stores, restaurants, schools, parks and essential services. Well connected to major transportation routes and publi c transit, including MAX Purple rapid bus service providing connections to downtown Calgary. REDEVELOPMENT AND LAND VALUE: New infill homes, duplexes, townhouses and multi-unit residential developments are transforming the surrounding blocks, including projects along 42 Street SE. The generous 6, 103 sq. ft. lot presents an attractive long-term investment opportunity, with future redevelopment possibilities. TWO RENTAL UNITS. REGISTERED LEGAL SUITE. MAJOR UPGRADES. SUBSTANTIAL LOT. EXISTING RENTAL INCOME. An opportunity to add an established income-producing property to your investment portfolio while benefiting from the area’s ongoing redevelopment. Minimum 24 hours’ notice required for all showings. Utilities are around $500 winter and $300 summer. (id:62650)

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Basic Details
  • Property Type: Residential
  • Listing Type: For Sale
  • Listing ID: A2354739
  • Price: $540,000
  • Bedrooms: 3
  • Bathrooms: 2
  • Square Footage: 951 Sqft
  • Year Built: 1910
  • Status: Active
  • Office Name: RE/MAX House of Real Estate
  • Property Sub Type: Single Family
  • Office Key: 54517
Features & Appliances
Features
  • Heating System: Forced air
  • Cooling System: None
  • Basement: Finished, Full, Separate entrance, Suite
  • Fence: Partially fenced
  • Parking: Detached Garage
  • Exterior Features: Vinyl siding
  • Flooring: Laminate, Carpeted, Linoleum
Address Map
  • Location: CA, Alberta, Calgary, Forest Lawn, T2B1G5
  • Street: 42
  • Street Number: 2232
  • Street Suffix: Street
  • Longitude: W114° 1' 39.1''
  • Latitude: N51° 2' 1''
  • Street Dir Suffix: Southeast
Additional Information
  • Construction Materials:
  • Foundation Details:
  • Lot Features:
  • Lot Size Dimensions: 567.00
  • Stories: 1.5
Financial
  • Tax Annual Amount: 3810
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Listing updated: 2026-10-30 23:01:03
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Listing Information
  • List Agent Key: 2004741
  • List Office Key: 54517
  • Modification Timestamp: 2026-10-31T03:55:19Z
  • Originating System Name: Calgary Real Estate Board
  • Status Change Timestamp: 2026-10-31T03:46:36Z
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Listing updated: 2026-10-30 23:01:04
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