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Exceptional high-income investment opportunity featuring eight bedrooms above grade and a separate, fully legal two-bedroom basement suite. This massive two-storey property is purpose-built for room-by-room rentals, with additional income potential from the legal basement suite and the option to rent out the garage separately. Multi-family living, or extended family use, offering strong cash-flow potential in a high-demand rental location. Featuring over 4000 sq ft of developed living space, the home includes 10 bedrooms and 4 bathrooms with a highly functional layout designed for shared living. The upper floor is thoughtfully designed with seven bedrooms and three bathrooms, including one bedroom with a private full ensuite, a five-piece bathroom shared between bedrooms, and an additional four-piece Jack-and-Jill bathroom, providing excellent usability and privacy for multiple occupants. A spacious bonus room further enhances the layout, while the very open floor plan and large windows throughout flood the home with natural light and strongly enhance tenant appeal. A large front foyer creates an inviting first impression. The main floor offers additional living space and a separate laundry room, while the fully self-contained LEGAL two-bedroom basement suite includes its own laundry and a generous living area, making the property exceptionally well suited for efficient room-by-room leasing or multi-family use. The home underwent a significant transformation in 2015, with upgrades including a newer roof, windows, hot water tank, updated kitchen, and renovated bathrooms, minimizing near-term capital expenditures. Solidly built, well maintained, and turnkey for income generation, this property offers both immediate revenue potential and long-term value.Additional investment highlights include: LEGAL basement suit, Double garage plus abundant on-site and street parking, Second entrance providing functional separation, Bright, open common areas enhanced by oversized win dows, Prime location close to Marlborough Mall, 17 Avenue SE, LRT stations, schools, and major transit routes. Ideal for investors seeking strong monthly income, flexible rental configurations, and long-term appreciation in an established Calgary neighbourhood. A rare opportunity to secure a large-scale residential income property — book your showing today. City Assessment came in at 950 K. (id:25325)
| MLS® Number | A2282727 |
| Property Type | Single Family |
| Community Name | Forest Lawn |
| Amenities Near By | Park, Playground, Schools, Shopping |
| Features | Pvc Window |
| Parking Space Total | 11 |
| Plan | 6313hu |
| Bathroom Total | 5 |
| Bedrooms Above Ground | 8 |
| Bedrooms Below Ground | 2 |
| Bedrooms Total | 10 |
| Appliances | Washer, Refrigerator, Dishwasher, Stove, Dryer, Microwave, Window Coverings, Washer & Dryer |
| Basement Development | Finished |
| Basement Features | Separate Entrance, Suite |
| Basement Type | Full (finished) |
| Constructed Date | 1960 |
| Construction Material | Wood Frame |
| Construction Style Attachment | Detached |
| Cooling Type | None |
| Exterior Finish | Stucco |
| Flooring Type | Ceramic Tile, Hardwood, Laminate |
| Foundation Type | Poured Concrete |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 3,034 Ft2 |
| Total Finished Area | 3034.2 Sqft |
| Type | House |
| Attached Garage | 2 |
| Other | |
| Street | |
| Oversize | |
| Parking Pad |
| Acreage | No |
| Fence Type | Not Fenced |
| Land Amenities | Park, Playground, Schools, Shopping |
| Size Depth | 16.77 M |
| Size Frontage | 38.41 M |
| Size Irregular | 644.00 |
| Size Total | 644 M2|4,051 - 7,250 Sqft |
| Size Total Text | 644 M2|4,051 - 7,250 Sqft |
| Zoning Description | R-cg |
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Basement | Other | 10.00 Ft x 15.00 Ft | ||
| Basement | Recreational, Games Room | 15.00 Ft x 18.08 Ft | ||
| Basement | Laundry Room | 4.75 Ft x 10.00 Ft | ||
| Basement | Furnace | 5.92 Ft x 13.58 Ft | ||
| Basement | Bedroom | 8.67 Ft x 10.50 Ft | ||
| Basement | Bedroom | 8.67 Ft x 10.08 Ft | ||
| Basement | 4pc Bathroom | 8.67 Ft x 10.00 Ft | ||
| Main Level | Kitchen | 12.17 Ft x 17.17 Ft | ||
| Main Level | Dining Room | 12.17 Ft x 8.75 Ft | ||
| Main Level | Living Room | 14.42 Ft x 18.75 Ft | ||
| Main Level | Foyer | 6.58 Ft x 11.00 Ft | ||
| Main Level | Laundry Room | 7.75 Ft x 9.67 Ft | ||
| Main Level | Bedroom | 13.42 Ft x 10.67 Ft | ||
| Main Level | 5pc Bathroom | 8.17 Ft x 10.67 Ft | ||
| Upper Level | Bonus Room | 14.33 Ft x 17.58 Ft | ||
| Upper Level | Other | 12.00 Ft x 7.50 Ft | ||
| Upper Level | Bedroom | 8.83 Ft x 10.17 Ft | ||
| Upper Level | Bedroom | 11.75 Ft x 12.42 Ft | ||
| Upper Level | Primary Bedroom | 11.75 Ft x 12.50 Ft | ||
| Upper Level | Bedroom | 8.83 Ft x 10.17 Ft | ||
| Upper Level | Bedroom | 11.00 Ft x 10.17 Ft | ||
| Upper Level | Bedroom | 12.00 Ft x 8.08 Ft | ||
| Upper Level | Bedroom | 13.67 Ft x 11.25 Ft | ||
| Upper Level | 5pc Bathroom | 4.92 Ft x 12.08 Ft | ||
| Upper Level | 4pc Bathroom | 7.33 Ft x 7.42 Ft | ||
| Upper Level | 3pc Bathroom | 4.92 Ft x 10.25 Ft |
https://www.realtor.ca/real-estate/29306236/929-38-street-se-calgary-forest-lawn
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