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$500,000

Est. payment - /mo

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7 Beds

3 Baths

1,187 SqFt

Active

632 55 ST SE Calgary, AB T2A 3R6

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Jason Ngo

jason@jnrealestategroup.ca +1(587) 998-3088

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Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 1,187 sqft

Price per Sqft $421

Subdivision Penbrooke Meadows

MLS® Listing ID A2242804

Style Bungalow

Bedrooms 7

Full Baths 3

Year Built 1972

Annual Tax Amount $3,263

Tax Year 2025

Lot Size 5,198 Sqft

Acres 0.12

Property Sub-Type Detached

Source Calgary

Property Description

Investor Alert & Family Gem – Live In, Rent Out, or Flip! At $500,000, 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!

Location

Province AB

County Calgary

Area Cal Zone E

Zoning R-CG

Direction W

Rooms

Other Rooms 1

Basement Separate/Exterior Entry, Finished, Full, Suite, Walk-Up To Grade

Interior

Interior Features Ceiling Fan(s), Jetted Tub, Pantry, Storage

Heating Forced Air, Natural Gas

Cooling None

Flooring Laminate, Other, Tile

Fireplaces Number 1

Fireplaces Type Electric, Living Room

Inclusions 2 fridges, 2 stoves, 2 hood fan, 1 dishwasher, 2 washer, 2 dryer, deep freezer, AC in living room, window covering all

Appliance See Remarks

Laundry In Basement, Main Level

Exterior

Parking Features Off Street, Parking Pad, See Remarks

Garage Description Off Street, Parking Pad, See Remarks

Fence Fenced

Community Features Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights

Roof Type Asphalt Shingle

Porch Patio

Lot Frontage 15.85

Exposure W

Total Parking Spaces 2

Building

Lot Description Back Lane, Backs on to Park/Green Space, Rectangular Lot

Foundation Poured Concrete

Architectural Style Bungalow

Level or Stories One

Structure Type Other,Vinyl Siding

Others

Restrictions None Known

Tax ID 101455373

Ownership Private

Listed by CIR Realty

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Phone

+1(587) 998-3088

jason@jnrealestategroup.ca