2232 42 Street SE Calgary, Alberta T2B 1G5
$540,000
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:52784)
Property Details
| MLS® Number | A2354739 |
| Property Type | Single Family |
| Community Name | Forest Lawn |
| Amenities Near By | Park, Playground, Schools, Shopping |
| Features | Back Lane, No Smoking Home |
| Parking Space Total | 3 |
| Plan | 2900w |
| Structure | See Remarks |
Building
| Bathroom Total | 2 |
| Bedrooms Above Ground | 2 |
| Bedrooms Below Ground | 1 |
| Bedrooms Total | 3 |
| Appliances | Refrigerator, Dishwasher, Stove, Hood Fan, Washer & Dryer |
| Basement Development | Finished |
| Basement Features | Separate Entrance, Suite |
| Basement Type | Full (finished) |
| Constructed Date | 1910 |
| Construction Material | Wood Frame |
| Construction Style Attachment | Detached |
| Cooling Type | None |
| Exterior Finish | Vinyl Siding |
| Flooring Type | Carpeted, Laminate, Linoleum |
| Foundation Type | Poured Concrete |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 951 Sqft |
| Total Finished Area | 951.1 Sqft |
| Type | House |
Parking
| Detached Garage | 2 |
Land
| Acreage | No |
| Fence Type | Partially Fenced |
| Land Amenities | Park, Playground, Schools, Shopping |
| Size Depth | 11.35 M |
| Size Frontage | 4.64 M |
| Size Irregular | 567.00 |
| Size Total | 567 M2|4,051 - 7,250 Sqft |
| Size Total Text | 567 M2|4,051 - 7,250 Sqft |
| Zoning Description | R-c2 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Bedroom | 19.25 Ft x 12.25 Ft | ||
| Basement | Other | 7.50 Ft x 6.67 Ft | ||
| Basement | Kitchen | 10.00 Ft x 6.25 Ft | ||
| Basement | Dining Room | 7.92 Ft x 9.33 Ft | ||
| Basement | Living Room | 12.00 Ft x 8.67 Ft | ||
| Basement | Bedroom | 14.25 Ft x 12.00 Ft | ||
| Basement | Other | 4.17 Ft x 6.42 Ft | ||
| Basement | 4pc Bathroom | 7.25 Ft x 6.58 Ft | ||
| Basement | Furnace | 10.75 Ft x 5.25 Ft | ||
| Main Level | Other | 4.92 Ft x 5.17 Ft | ||
| Main Level | Living Room | 24.50 Ft x 14.92 Ft | ||
| Main Level | Dining Room | 9.92 Ft x 8.58 Ft | ||
| Main Level | Other | 15.25 Ft x 11.25 Ft | ||
| Main Level | Primary Bedroom | 17.08 Ft x 9.58 Ft | ||
| Main Level | 4pc Bathroom | 8.33 Ft x 6.67 Ft | ||
| Main Level | Other | 13.67 Ft x 12.17 Ft | ||
| Main Level | Laundry Room | 6.75 Ft x 6.75 Ft |
https://www.realtor.ca/real-estate/30445372/2232-42-street-se-calgary-forest-lawn
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October 28 2026 08:16:26
Calgary Real Estate Board
RE/MAX House Of Real Estate