Description

This low-maintenance bungalow is ideal for investors looking for a CONSISTENT LONG-TERM POSITIVE CASHFLOW with redevelopment potential. This home can be rented up to a young couple, family, professionals, and down to students attending nearby universities. It is also great for a successful Airbnb business. The NEWLY UPDATED HOUSE offers 2,237 sqft of living space and is located on a private lot in the desirable community of Collingwood. The shingles are replaced, and roof turbines have been installed. There are fresh interior renovations on the main floor such as windows, an UPDATED LARGE FUNCTIONAL KITCHEN, and a spacious living room that boasts a stone surrounding fireplace with a cantilever extension. The remainder of the main floor comprises of 3 bedrooms with built-in closets, a 4-piece bath, vinyl luxury flooring, pot-lights, and recently painted walls, doors, and ceiling. The FULLY DEVELOPED BASEMENT IS A LEGAL SUITE registered with the City of Calgary. The basement has an updated kitchen with individual pantry space, an outward exhausting hood fan, 4 bedrooms, and 2 separate 4-piece bathrooms. Of the 4 bedrooms, 2 have walk-in closets. All bedrooms are over 110 sqft which has carbon monoxide and fire detectors interconnected. There is a mechanical room that has 2 separate front loader laundries, storage space, a new high-efficiency furnace and hot water tank, and a sprinkler system for safety. This treed lot is fenced allowing for privacy and there is a large floating cedar deck that is newly painted. Yard work is minimized. This home also features a DETACHED OVERSIZED SINGLE GARAGE, 16ftx27ft, that is an additional income generator. LOCATION is prime as this home is situated on the only other street that has RC2 zoning in the Tri-wood area. This house is close to more than 10 schools, SAIT, University of Calgary, and University District. The Collingwood Tri-wood area has an incredible amount of green space with 28 parks, 7 tennis courts, 6 off-leash areas, 2 arenas, a golf course, a recreation center, and a splash park. There is easy access to the bike lane network. Major transportation routes, public transportation, an LRT station, 2 hospitals, and the new Cancer Centre are minutes away. The area includes more than 4 shopping centers and a public library. Lastly, downtown is near. Don’t miss out on this CASH COW OPPORTUNITY offering an approximately CAP RATE of 5.5. Currently, rooms in the basement are rented out to individuals with separate leases. Please note that the front and back yard lawn is photo shopped, seller will install front yard only or provide a credit. Currently upstairs empty waiting for new owners to occupy or the investor to rent out which before was rented at $2000, current written leases for basement rooms are three at $500, one room at $550, and garage at $250.