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.

Owner has lived in this home for 52 years. Great neighbors, great neighborhood. This classic West Park bungalow offers 3 family sized main floor bedrooms, a main floor bath and a half and large living area with corner gas fireplace. Kitchen has granite counters, fantastic working island and breakfast nook that overlooks the mature, private backyard. Basement has an updated 3 piece bath that has a sauna attached (sold as is). As well there are 2 large bedrooms down and big family room featuring a wet bar. Updated deck is partly covered and leads to a poured concrete sidewalk to garage. Detached oversized heated double garage with drive in doors parallel to the alley and a concrete pad for parking in front. Raspberry patch on the west side of the garage as well as choke cherries in backyard. Furnace has been updated. This home has been a great place for the owner and her family for a long time... it's easy to see why. This is a rare chance to make it YOUR home!

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.