Property Details
4617 48 Street
Olds (A2340686)
Description
Great investor focused, cash-flowing investment opportunity. This bungalow is built for the investor who wants day-one revenue with clear upside: a fully legal basement suite plus a transferable development permit for a third legal suite in the garage (perfect for a room-by-room strategy with consistent rental demand tied to Olds College).
Upstairs offers 3 bedrooms and 2 full baths (including ensuite). The legal basement suite includes 3 bedrooms and 1.5 baths. Both units have their own washer and dryer, and utilities plus day-to-day property care are tenant responsibility.
Tenants are now in place at increased market rents — [$1900/month upper, $1475/month basement] — giving investors an immediate bump in day-one cash flow over the prior rent roll.
Parking is a standout for this property with two off-street driveways. This provides private parking for each unit with 4 stalls dedicated to the basement unit and 4 stalls plus the garage for the upper unit, plus street parking out front.
Investors will appreciate the long-term optionality. The site carries higher-density zoning (historically R3, now consolidated into the Town’s Mixed Use framework), supporting future redevelopment or added density where approved. New tenants in place at market rent and the approved garage suite adds a second lever for those looking for a medium-term redevlopment. Note: current tenants do not smoke indoors, however a mild residual smoke odor is present in parts of the home.
Property details
- MLS® #
- A2340686
- Property Type:
- Residential
- Subtype:
- Detached
- Subdivision:
- NONE
- Price
- $440,000
- Sale/Lease:
- For Sale
- Size:
- 1,141 sq.ft.
- Bedrooms:
- 6
- Bathrooms:
- 3 full / 2 half
- Year Built:
- 1975 (51 years old)
- Structure Type:
- House
- Building Style:
- Bungalow
- Garage:
- Yes
- Parking:
- Double Garage Detached, Parking Pad
- Fence:
- Partial
- Basement:
- Full
- Features:
- Bookcases, Ceiling Fan(s), Closet Organizers
- Fireplaces:
- 2
- Inclusions:
- N/A
- Appliances:
- Dishwasher, Range Hood, Refrigerator, Stove(s), Washer/Dryer, Washer/Dryer Stacked, Window Coverings
- Laundry:
- In Basement, Main Level
- Exterior Features:
- Private Entrance, Private Yard, Rain Gutters
- Patio/Porch Features:
- Deck
- Nearby Amenities:
- None
- Lot Size:
- 0 acres
- Lot Features:
- Back Lane, Back Yard, Corner Lot, Front Yard
- Zoning:
- R3
- Roof:
- Asphalt Shingle, Metal
- Exterior:
- Brick,Concrete,Stucco,Wood Frame
- Floors:
- Ceramic Tile, Hardwood, Laminate
- Foundation:
- Poured Concrete
- Heating:
- Central, Fireplace(s), Natural Gas
- Cooling:
- None
- Amenities:
- None
- Possession:
- Immediate
- Days on Market:
- 33
Basic Info
Building Info
Neighborhood Info
Lot / Land Info
Materials & Systems
Listing Info
Contact
Find Us
Awards
2019 Top 50 REALTORS Under 35 in Canada
2018 Top 200 REALTORS in Canada
Contact
587-777-7276
yuri@grassrootsrealtygroup.ca
#118, 8805 Resources Road
Grande Prairie, AB
T8V 3A6
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