3918 50 Street
Red Deer, Alberta

Summary

Turnkey investment opportunity with a legal basement suite built just 5 years ago, currently generating $2,650 per month in rental income, with tenants paying most utilities. The main floor offers 2 bedrooms, a good-sized living room, a cozy kitchen, and a 4-piece bath. The legal basement suite mirrors that layout with 2 bedrooms, a 4-piece bath, a full kitchen, and a separate living area. Each suite has its own in-suite laundry, and the suites are separately heated and ventilated, which keeps tenant comfort high and utility allocation simple. Additional features include a double car garage with additional off-street parking, plus a fully fenced shared yard. A solid addition for investors looking to build a portfolio, or for an owner-occupier who wants help carrying the mortgage. Newer legal suite construction means less capital risk than older conversions, and with stable rental income and low tenant utility exposure, the numbers are easy to underwrite.