632 55 Street Se, Calgary, AB, T2A 3R6
$518,888
7
Beds
3
Baths
1,188
Square feet
0.12
Acres
Investor Special – 3 Rental Streams, Greenspace, and R-CG Zoning! Rare opportunity to own a 1,422 sqft bungalow—the lowest-priced home of this size in Calgary—backing onto a greenspace in the high-demand community of Penbrooke Meadows. This property delivers immediate and proven cash flow with 3 potential rental streams: a 3-bedroom main floor, a 3-bedroom illegal basement suite with separate entrance (previously rented for $1,800/month), and a converted garage with private entry (previously rented for $800/month). That’s up to 3 tenants and 3 rents—a true cash cow for investors. Need garage space? Easily convert the 7th bedroom back to a Single Attached Garage, or take advantage of the back alley access and build a Brand-New Double Detached Garage to increase future resale value. Already upgraded with City-approved copper wiring and electrical meter, LED lighting, newer windows, ceramic & luxury vinyl flooring, and a 4–5-year-old roof, this property is solid and low-maintenance. Even better, it sits on an R-CG zoned lot, opening the door to future redevelopment, legal suites, or increased density—ideal for long-term portfolio growth. Located close to schools, shopping, parks, and major commuter routes (17th Ave, Memorial, Stoney, and Deerfoot), it's perfectly positioned to attract reliable tenants year-round. Live in one unit and rent the rest, renovate and flip, or hold for steady appreciation and monthly income—this is an investor’s dream with built-in upside.
Features of 632 55 Street Se, Calgary
| MLS® # | A2242804 |
|---|---|
| Price | $518,888 |
| Bedrooms | 7 |
| Bathrooms | 3.00 |
| Full Baths | 3 |
| Square Footage | 1,188 |
| Acres | 0.12 |
| Year Built | 1972 |
| Type | Residential |
| Sub-Type | Detached |
| Style | Bungalow |
| Status | Active |
| Address | 632 55 Street Se |
|---|---|
| Subdivision | Penbrooke Meadows |
| City | Calgary |
| County | Calgary |
| Province | Alberta |
| Postal Code | T2A 3R6 |
| Zone | Zone E |
Amenities at 632 55 Street Se, Calgary, AB
| Parking Spaces | 2 |
|---|---|
| Parking | Off Street, Parking Pad, See Remarks |
| Is Waterfront | No |
| Has Pool | No |
| Suite | Yes |
| Interior Features | Ceiling Fan(s), Jetted Tub, Pantry, Storage |
|---|---|
| Appliances | See Remarks |
| Heating | Forced Air, Natural Gas |
| Cooling | None |
| Fireplace | Yes |
| # of Fireplaces | 1 |
| Fireplaces | Living Room, Electric |
| Has Basement | Yes |
| Basement | Full |
| Exterior Features | Garden |
|---|---|
| Lot Description | Backs on to Park/Green Space, Back Lane, Rectangular Lot |
| Roof | Asphalt Shingle |
| Construction | Other, Vinyl Siding |
| Foundation | Poured Concrete |
| Date Listed | July 24th, 2025 |
|---|---|
| Days on Market | 99 |
| Zoning | R-CG |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
632 55 Street Se, Calgary Listing Details
| Office | CIR Realty |
|---|---|
| Website | To see this home contact Chamberlain Real Estate Group to Schedule your tour. |
More About 632 55 Street Se, Calgary, AB
632 55 Street Se Calgary is located in the neighbourhood of Penbrooke Meadows. The community of Penbrooke Meadows has 31 available properties. Penbrooke Meadows makes up 0.50% of the 6,257 total properties listed in Calgary. Homes in Penbrooke Meadows are listed for an average price of $424,048. That is 39.16% lower than the average asking price of $696,991 found across all Calgary properties for sale. If you would like to see other homes like 632 55 Street Se Calgary please reach out to us 403-879-4145. Properties like 632 55 Street Se can come and go quickly and it's a big reason why having a personalized strategy and search set up for you is key. Let us know how we can help so we don't miss out on 632 55 Street Se Calgary or another home like it in the future. Get directions to 632 55 Street Se Calgary.