632 55 Street SE
Calgary, AB, T2A 3R6
$518,888
7 Beds
3 Baths
1,188 SqFt
0.12 Acres
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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 &#38' 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&#39'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.

Property Details

Price:
$518,888
MLS #:
A2242804
Status:
Active
Beds:
7
Baths:
3
Type:
Single Family
Subtype:
Detached
Subdivision:
Penbrooke Meadows
Listed Date:
Jul 24, 2025
Finished Sq Ft:
1,188
Lot Size:
5,198 sqft / 0.12 acres (approx)
Year Built:
1972
Penbrooke MeadowsFullBack Lane,backs On To Park/green Space,rectangular Lot

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Schools

Interior

Appliances
See Remarks
Basement
Full
Bathrooms Full
3
Laundry Features
In Basement, Main Level

Exterior

Exterior Features
Garden
Lot Features
Back Lane, Backs on to Park/Green Space, Rectangular Lot
Parking Features
Off Street, Parking Pad, See Remarks
Parking Total
2
Patio And Porch Features
Patio
Roof
Asphalt Shingle

Financial

Map

Community

Subdivisions in Calgary

Market Summary

Current real estate data for Single Family in Calgary as of Oct 29, 2025
4,168
Single Family Listed
50
Avg DOM
473
Avg $ / SqFt
$822,789
Avg List Price

Property Summary

    Located in the Penbrooke Meadows subdivision, 632 55 Street SE Calgary AB is a Single Family for sale in Calgary, AB, T2A 3R6. It is listed for $518,888 and features 7 beds, 3 baths, and has approximately 1,188 square feet of living space, and was originally constructed in 1972. The current price per square foot is $437. The average price per square foot for Single Family listings in Calgary is $473. The average listing price for Single Family in Calgary is $822,789. To schedule a showing of MLS#a2242804 at 632 55 Street SE in Calgary, AB, contact your Rob Johnstone agent at (403) 730-2330 .

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632 55 Street SE
Calgary, AB