2232 42 Street SE

Calgary, AB T2B 1G5

LIVE UPSTAIRS OR DOWNSTAIRS — LET RENTAL INCOME HELP PAY YOUR MORTGAGE! REGISTERED LEGAL BASEMENT SUITE | DOUBLE DETACHED GARAGE | $3,000 CURRENT COMBINED MONTHLY RENTAL INCOME. Looking for a detached home in Calgary with a way to make homeownership more affordable? This Forest Lawn property offers a fantastic opportunity to live in one residence while collecting rental income from the other. Whether you prefer the bright main and upper levels for yourself or a more compact basement residence while renting the upper level, this home gives you the flexibility to choose the arrangement that works best for your lifestyle and budget. Currently generating a combined $3,000 per month in rental income, including utilities, the property features two self-contained living spaces and a City of Calgary registered legal basement suite. Both residences are currently occupied by tenants on month-to-month agreements, offering flexibility for a future owner, subject to applicable tenancy requirements. THE MAIN AND UPPER RESIDENCE welcomes you with generous natural light, large windows, a comfortable living room, a fully equipped kitchen, a spacious main-floor bedroom, a second bedroom in the upper loft with lower ceiling height, and a full bathroom. A charming and practical space to call home. THE REGISTERED LEGAL BASEMENT SUITE offers a private separate entrance, one bedroom, a full bathroom, a bright living area with large legal windows, and a fully equipped kitchen with stove, range hood, refrigerator and dishwasher. Its own full-size washer and dryer provide additional convenience and independence. IMPORTANT UPGRADES ALREADY COMPLETED! The foundation and basement were reinforced and rebuilt with a concrete basement by a previous owner in the 1960s. During the current owner's approximately 10 years of ownership, significant improvements have included the roof, furnace, hot water tank, basement windows and appliances, all updated within approximately the past five years. Outside, enjoy a west-facing backyard, a double detached garage with wooden workbenches, two additional storage sheds, and a generous 6,103 sq. ft. lot with room for outdoor enjoyment and storage. Located in the established community of Forest Lawn, you'll appreciate convenient access to schools, parks, grocery stores, restaurants, shopping and the many amenities along International Avenue. Public transit, including MAX Purple rapid bus service, provides convenient connections toward downtown Calgary. WHY PAY THE ENTIRE MORTGAGE YOURSELF WHEN YOUR HOME COULD HELP? Enjoy the independence of owning a detached home, the benefit of a registered legal rental suite, and the flexibility to choose which residence suits you best.

Listing courtesy of Merli Rojas of RE/MAX House of Real Estate

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Last checked 2026-11-06 09:34 AM UTC