4736 54 ST Red Deer, AB T4N 2G3

Legally suited and fully renovated in 2015, this mid-century beauty offers tremendous investment opportunity. This 1,757 square foot home has a 3-bedroom unit on the upper floors and a 2-bedroom, fully separated unit on the lower level. It sits on a 50'X158' lot that is zoned Residential High Density – RH and very well located for future higher density development. The complete 2015 renovation included all new windows throughout, all kitchens and bathrooms, all flooring, roof, electrical, plumbing, interior sewer and backflow, 2 hot water tanks, air exchanger and furnace (2011). Garage, approximately 12' X 21'4”, is original.
The 3-bedroom upper unit is an expansive 1,757 square feet over two floors. Beautiful and bright, the main floor (1,144 sf) offers a well-appointed kitchen, with movable island, which opens to the lovely and large dining and living rooms. Kitchen is complete with electric range, refrigerator, dishwasher and microwave. There is also a bedroom, with large closet, a 4-piece bathroom and a very large laundry/storage room. Completing the main floor is a charming sunroom/den. South facing and full of light, this den/office has a separate entrance. A classic staircase leads you to the second floor and another 613 square feet and two bedrooms. The large primary bedroom is complete with a 2-piece en-suite bathroom and a walk-in closet while the third bedroom provides plenty of room as well.
The 2-bedroom lower unit, with its own secure and separate entrance, is fully and properly isolated (with separate heating and water) and over 1,150 sf in size. The full kitchen and living room are open and welcoming and renovated to the same standard as upstairs. Kitchen is complete with electric range, refrigerator, dishwasher and microwave. The primary bedroom is large and has a built-in desk and study/work area. With a 4-piece bath and a 2nd bedroom, this unit also has a large, in-suite laundry and storage room.
This is a great revenue property, but it is also ideal for a family wanting to benefit from the rent downstairs! The upper unit is currently leased M-T-M for $1,700/mo., the tenant has been there for four years. The lower unit lease will expire May 31/25 at a current rate of $1,325/mo. The purchaser must assume both leases. Both tenants indicate they would like to stay.