632 55 Street SE
Calgary T2A 3R6
MLS® Number: A2242804
$ 518,888
7
BEDROOMS
3 + 0
BATHROOMS
1,422
SQUARE FEET
1972
YEAR BUILT
Lara Tatari
5873303033
Investor Special – 3 Rental Streams, Greenspace, and R-CG Zoning! Rare opportunity to own a 1,422 sqft bungalow—the lowest-priced home of this size in Calgary—backing onto a greenspace in the high-demand community of Penbrooke Meadows. This property delivers immediate and proven cash flow with 3 potential rental streams: a 3-bedroom main floor, a 3-bedroom illegal basement suite with separate entrance (previously rented for $1,800/month), and a converted garage with private entry (previously rented for $800/month). That’s up to 3 tenants and 3 rents—a true cash cow for investors. Need garage space? Easily convert the 7th bedroom back to a Single Attached Garage, or take advantage of the back alley access and build a Brand-New Double Detached Garage to increase future resale value. Already upgraded with City-approved copper wiring and electrical meter, LED lighting, newer windows, ceramic & luxury vinyl flooring, and a 4–5-year-old roof, this property is solid and low-maintenance. Even better, it sits on an R-CG zoned lot, opening the door to future redevelopment, legal suites, or increased density—ideal for long-term portfolio growth. Located close to schools, shopping, parks, and major commuter routes (17th Ave, Memorial, Stoney, and Deerfoot), it's perfectly positioned to attract reliable tenants year-round. Live in one unit and rent the rest, renovate and flip, or hold for steady appreciation and monthly income—this is an investor’s dream with built-in upside.
| COMMUNITY | Penbrooke Meadows |
| PROPERTY TYPE | Detached |
| BUILDING TYPE | House |
| STYLE | Bungalow |
| YEAR BUILT | 1972 |
| SQUARE FOOTAGE | 1,422 |
| BEDROOMS | 7 |
| BATHROOMS | 3.00 |
| BASEMENT | Finished, Full, Separate/Exterior Entry, Suite, Walk-Up To Grade |
| AMENITIES | |
| APPLIANCES | See Remarks |
| COOLING | None |
| FIREPLACE | Electric, Living Room |
| FLOORING | Laminate, Other, Tile |
| HEATING | Forced Air, Natural Gas |
| LAUNDRY | In Basement, Main Level |
| LOT FEATURES | Back Lane, Backs on to Park/Green Space, Rectangular Lot |
| PARKING | Off Street, Parking Pad, See Remarks |
| RESTRICTIONS | None Known |
| ROOF | Asphalt Shingle |
| TITLE | Fee Simple |
| BROKER | CIR Realty |
| ROOMS | DIMENSIONS (m) | LEVEL |
|---|---|---|
| Bedroom | 12`2" x 9`10" | Basement |
| Bedroom | 13`2" x 10`6" | Basement |
| Bedroom | 12`10" x 12`11" | Basement |
| Living Room | 16`11" x 12`5" | Basement |
| 4pc Bathroom | 9`3" x 7`10" | Basement |
| Kitchen | 12`3" x 12`3" | Basement |
| Furnace/Utility Room | 13`1" x 9`7" | Basement |
| Bedroom - Primary | 13`4" x 11`8" | Main |
| Bedroom | 11`3" x 20`10" | Main |
| Bedroom | 9`10" x 10`5" | Main |
| Kitchen | 13`10" x 9`1" | Main |
| 3pc Ensuite bath | 9`6" x 2`10" | Main |
| 4pc Bathroom | 13`1" x 4`7" | Main |
| Bedroom | 13`3" x 8`2" | Main |
| Dining Room | 13`10" x 8`4" | Main |
| Living Room | 13`4" x 17`7" | Main |
