Income Property for Sale in West Park Red Deer | Legal Suite + Garage Revenue

Turnkey income property in West Park, Red Deer offering strong rental demand, multiple revenue streams, and immediate cash flow potential. This fully rented home features a legal basement suite and a detached garage with its own tenant, making it an ideal opportunity for investors looking to expand their portfolio or secure a stable, income-producing asset.

💰 Investment Highlights

* Total Gross Monthly Income:$3,375
* Main Floor: $1,625/month + 60% utilities (month-to-month)
* Basement Suite: $1,450/month (utilities included, month-to-month)
* Detached Garage: $300/month (separately rented)
* Annual Gross Income:** ~$40,500

This property offers diversified income with three separate revenue sources—an increasingly sought-after feature in today’s rental market.

🏡 Property Overview

The main floor offers approximately 1,029 sq ft above grade with a practical layout that appeals to long-term tenants. Features include:

* Spacious living room with excellent natural light
* Functional kitchen with ample cabinetry and workspace
* Two well-sized bedrooms
* Full 4-piece bathroom
* Dedicated in-suite laundry

The legal basement suite is fully self-contained and designed for tenant independence:

* Two bedrooms
* Full kitchen and living area
* 3-piece bathroom
* Separate laundry

This configuration supports consistent occupancy and strong rental retention, reducing turnover risk.

🚗 Bonus Income: Detached Garage Rental

A key differentiator is the **detached garage rented separately for $300/month**—a rare additional income stream that enhances overall return and provides flexibility for future use or rent increases.

📍 Location Advantage: West Park, Red Deer

Located in the established community of West Park, this property benefits from:

* Close proximity to Red Deer Polytechnic (strong student & rental demand)
* Easy access to transit routes and major roadways
* Nearby parks, schools, and everyday amenities
* Proven long-term rental stability

West Park continues to be a high-demand rental neighbourhood, making it a reliable choice for both new and experienced investors.

📈 Investor Potential & Upside

With all tenancies currently month-to-month, this property offers:

* Flexibility to adjust rents to market rates
* Opportunity for value-add improvements over time
* Potential for owner-occupancy while maintaining income
* Strong appeal for house-hacking strategies

Whether you’re looking for cash flow today or long-term appreciation with upside, this property checks all the boxes.

🛠️ Additional Notes

Some photos have been virtually staged

Perfect Bower location! This spacious 5-bedroom, 3-bathroom family home offers comfort, functionality, and great updates throughout.
Situated across the street from Bower trail system, this fully developed 4-level split sits on a large 7,796 sq. ft. lot. A new front door with sidelight opens into a large foyer leading to a bright living room with a gas fireplace and hardwood flooring, which continues through the dining area and kitchen. The kitchen features seamless Corian countertops, abundant cabinetry, 3 stainless steel appliances, pot lights, and an upgraded LED fixture. A new patio door with built-in blinds opens to a southwest-facing backyard and 23x13 ft. wood deck.
The upper level has 3 bedrooms with vinyl crank-out windows and new CLIC laminate flooring. The primary bedroom includes a walk-in closet and a 2-piece ensuite (with potential to add a shower). The renovated main bathroom features extensive floor and wall ceramic tile, glass backsplash, a full acrylic tub surround, dual-flush toilet, and a vanity with granite top plus Stackable washer and dryer (dryer heating element can be fixed)in bathroom.
The lower level offers 2 additional bedrooms, another 4-piece bathroom, and a large laundry room with sink. A separate entrance provides flexibility for future development. The basement includes a bright family room large window and Newer CLIC laminate flooring throughout, there is also a coldroom/storage.
Utility room includes upgrades in last year of a high-efficiency Lennox furnace, HEPA air filter, UV light filter, and central air conditioning—all enhancing air quality and comfort. The hot water tank is approximately 8 years old, the sump pump 2 years, and there is a central vacuum system with attachments. Shingles were replaced about 10 years ago, and an RPR is available from 2022.
Outside, enjoy a fully fenced (dog-proof) backyard with a play centre, plus a 24x24 double garage with a 13x8 ft. workshop addition, power, central vac, and multiple windows. Garden Shed , With nearly 1,300 sq. ft. of living space, two laundry areas, and three separate entrances, this is a versatile and inviting home for the whole family.

Lake life! So much to do, so little time. First class recreational year round park on the south west shore of Gull Lake with so many amenities you and the fam won't have a bored moment! Brand new (12 hole) golf course set to open in 2026. Man made marina (boats) giant beach (swimming) are the obvious activities, but they have volleyball courts, playgrounds, a giant gazebo with big firepit and hiking/biking trail that will take you to either the Gull Lake townsite or the town of Bentley. Looking for something a little less "active"... try pickleball! There's cross country skiing, snowmobiling or ice fishing. Or... you can just enjoy a massive covered deck overlooking your backyard and the lake. This former show home is spectacular inside and out. Great room area has vaulted ceiling, stunning white kitchen with upscale stainless appliances, quartz counters and access to the massive back deck and yard. Good sized master has a "temp wall" that can easily be removed. Full ensuite bath as well as standard bath and a guest room. Laundry is included in the home, but right across the street is the community laundry and washrooms (very clean!!). Marina with restaurant and gas bar are just a short walk away. Lease value for marina slip is $1627 + GST for '26 (limited availability). Owners are responsible for maintaining their own yard. Condo Corp will keep common areas looking great, remove snow, supply your water and sewer and the keep it a great place to live. This home can be used year round. It has R40 insulation in the attic and under the floor and R22 in the walls. There are several year rounders here now... This is a newer, extremely well done, recreational condo park. You are ON the lake...

Welcome to this fully finished multi-level townhouse, ideally located in a quiet spot within the complex. This well-maintained center unit offers a single attached garage with heated floor and foyer, creating a unique entry level that adds to the home’s versatile layout, along with 3 bedrooms and 3.5 bathrooms, providing plenty of space and flexibility for families or professionals alike. The main living area features vaulted ceilings and a cozy gas fireplace, creating a bright and inviting space to relax or entertain. The kitchen includes a dining area and pantry, and overlooks the living room, making it perfect for both everyday living and hosting guests. You will also find a 2-piece powder room and laundry room combo on this floor. Upstairs you’ll find three comfortable bedrooms, including a primary suite with a private 4-piece ensuite, along with an additional full bathroom to accommodate family. The lower level offers excellent versatility, featuring a spacious family room, a full bathroom, and a closet—making it an ideal teenage retreat, recreation room, games area, or guest space. Step outside to enjoy the southwest-facing deck, perfect for catching afternoon and evening sun. Condo fees include snow removal and landscaping, offering low-maintenance living year-round. Additional highlights include fresh paint, new carpet throughout (except the lower level), and quick possession available. Pets permitted with approval. This move-in-ready home offers comfort, functionality, and convenience—all tucked neatly within a well-managed complex.

Move-in ready and beautifully finished, this 5-bedroom bungalow offers the space, style, and function today’s families are looking for. With over 2,400 sq ft of fully developed living space, this home blends modern design with thoughtful upgrades throughout. The main floor welcomes you with a bright, spacious entry and an open-concept layout designed for everyday living and entertaining. The kitchen is the heart of the home, featuring quartz countertops, an undermount sink, and a large island with room for seating. The living and dining areas are filled with natural light from west-facing windows and anchored by a cozy electric fireplace. You’ll also find two bedrooms on the main level, including a generous primary suite with a walk-in closet and private ensuite with walk-in shower. Main floor laundry and a versatile flex room—ideal for a home office or playroom—add to the convenience. Downstairs, 9-foot ceilings create an airy feel in the fully finished basement, complete with a large family room, dry bar, three additional bedrooms, and a 4-piece bath—perfect for teens or guests. Roughed-in in-floor heat and central A/C provide year-round comfort. Outside, enjoy a fully landscaped yard with underground sprinklers, a tiered west-facing deck (partially covered for all-weather use), and direct access to neighborhood walking paths. The attached heated double garage includes 220 wiring for a potential EV charger. Located close to schools, shopping, and dining, this well-cared-for home offers modern comfort in a convenient location. A fantastic opportunity for buyers seeking space, quality, and value.

Court-ordered sale. Property is situated in downtown Sylvan Lake on an oversized lot. Great opportunity for buyers looking for a project or investment property

Welcome home to 6110 38 Avenue, a warm and inviting bungalow nestled on a quiet, family-friendly street in the heart of Stettler. This well-cared-for home offers over 1,100 sq.ft. on the main level plus a fully finished basement, giving your family plenty of space to relax, gather, and grow. Step inside to a bright and open main floor featuring a welcoming living room with large front windows, a spacious country-style kitchen with an abundance of cabinetry and counter space, and a dining area perfect for family dinners or morning coffee. The primary bedroom includes its own private ensuite, while two additional bedrooms and a full bathroom complete the main level. Downstairs, you’ll find a large family room ideal for movie nights or games, an additional bedroom, full bath, and generous storage. Comfort and convenience are at the forefront with main-floor laundry hookups, in-floor heating in both the basement and garage, and a heated attached garage complete with hot and cold water. Enjoy outdoor living on the covered front veranda or host summer barbecues on the back deck overlooking the fenced yard and concrete RV pad.

Located in one of Stettler’s most desirable established neighbourhoods, this home is just minutes from schools, parks, the Stettler Recreation Centre, and the many shops and amenities of Main Street. Stettler is known for its strong community spirit, quality schools, and small-town charm, with all the conveniences of a thriving regional hub. Whether you’re starting a family, downsizing, or simply looking for a welcoming place to call home, 6110 38 Avenue offers the perfect blend of comfort, practicality, and community.

Welcome to Imperial Place II, a secure and well-maintained 45+ adult-oriented building ideally located in the heart of Red Deer. This top-floor, east-facing one-bedroom condo offers 641 sq ft of thoughtfully designed space, filled with natural morning light and an easy, low-maintenance lifestyle.

The functional galley-style kitchen is equipped with a full appliance package, including a built-in dishwasher and microwave, and flows seamlessly into a comfortable dining area and bright living room. Cozy up by the gas fireplace, enjoy the convenience of wall-mounted A/C, or step outside to the private balcony with gas BBQ hookup—perfect for relaxed mornings or casual evenings.

The bedroom is generously sized and serviced by a four-piece bathroom, while in-suite storage and an additional assigned storage locker in the basement provide practical everyday convenience. Complimentary shared laundry is located just down the hall on the third floor. The suite has been recently refreshed and professionally maintained, offering a move-in-ready feel. Updates include a new ceiling fan and LED lighting in the kitchen, a freshly painted gas fireplace using heat-resistant paint, and professionally painted interior doors, trim, walls, and closets throughout. Carpets have been professionally cleaned, and the kitchen and bathroom lino floors have been thoroughly cleaned and refreshed, adding to the bright, well-cared-for presentation.

Residents enjoy secure entry, elevator access, and heated underground parking with an assigned stall, adding comfort and peace of mind year-round. The location truly shines—walk to downtown shops, restaurants, coffee spots, professional services, the Red Deer Public Library, Recreation Centre, and Farmers’ Market. Outdoor enthusiasts will appreciate being minutes from the Waskasoo Park trail system, with over 80 km of paved and natural pathways connecting to Barrett Park, Rotary Park, and the Red Deer River. A fantastic opportunity for those seeking convenient, lock-and-leave living in a central, walkable community.

Welcome to this fully finished bungalow tucked away in the highly desirable Rosedale Meadows neighbourhood—a mature, family-friendly community that’s perfect for growing families. This solid home delivers over 2,065 square feet of developed living space with a practical, functional floor plan designed for real everyday life. On the main floor you’ll find convenient main-floor laundry, a bright and spacious living room featuring beautiful Imperial Walnut hardwood flooring and vaulted ceilings, plus a generous kitchen with tons of counter space wrapped around a centre island—making meal prep and family gatherings easy and enjoyable. Upstairs there are two large bedrooms, including the master suite with its own private 4-piece ensuite, and both bathrooms boast luxurious granite heated floors for that extra comfort. Downstairs opens to a massive family room anchored by a cozy gas fireplace with fan—ideal for keeping everyone warm through those long Alberta winters—along with two more good-sized Jack & Jill bedrooms that share a convenient 4-piece bathroom, perfect for kids, guests, or teens who want their own space. There’s also plenty of open room for movie nights, watching the game, or even fitting a standard-sized pool table. Recent updates include a brand-new furnace and hot water tank installed in 2024, 30-year architectural shingles (2012), rough-in for central vacuum, and a handy tool/storage shed out back. Step outside to the rear deck—your go-to spot for summer barbecues, family get-togethers, or just relaxing while you overlook the beautiful, mature yard that’s fully fenced for privacy and peace of mind. Extra storage is sorted with the included toolshed for the mower and yard gear, and a 22×20’ double attached garage that handles vehicles, toys, and more. This is the kind of move-in-ready family home in a great neighbourhood that checks all the boxes—come see for yourself what Rosedale Meadows and this bungalow have to offer!