4823 53 Street
Red Deer, Alberta

Summary

This affordable downtown Red Deer property offers a built-in mortgage helper and exceptional future potential. Situated on a 50 x 125 ft lot, the main floor features a fully contained residential suite with soaring ceilings and a stylish loft that overlooks the bright, open living space. Below, a separate walk-out basement unit has its own ground-level entrance to the back yard. Each level provides two bedrooms or offices, a full kitchen, and a bathroom, with a shared laundry area between them. The entire historic home has been extensively upgraded, including newer windows, furnace, electrical, a new hot-water tank, updated flooring and paint, eavestroughs, and brand-new shingles installed in August 2025. Off-street parking is plentiful at the rear, and the property is already tenant-occupied so you can begin earning income immediately. Zoned C1, the lot is ideally positioned for redevelopment and the City has previously approved a 10,000-square-foot mixed-use project on the site. With many government incentives available for downtown redevelopment and no nearby residential neighbourhood to trigger complaints, this property represents an excellent opportunity to enter the market, secure income in the meantime, and plan a future multi-level apartment or commercial building.