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2211 41 Street SE
***SOLD PENDING DEPOSIT*** Welcome to 2211 41 Street SE, a rare redevelopment and investment opportunity in the highly accessible southeast Calgary community of Forest Lawn. Situated on a generously sized lot on a mature, tree-lined street, this property offers exceptional potential for builders, investors, and developers looking to secure a prime inner-city redevelopment site with approved permits already in place for a 4-plex with 4 legal basement suites (8 units total). Surrounded by ongoing revitalization and redevelopment activity, this is an ideal opportunity to fast-track a high-demand multi-family project in an increasingly evolving neighbourhood. The existing bungalow is not currently livable and is being sold as-is, where-is, with the primary value centered in the land, redevelopment potential, and approved permits. With development approvals already secured, this property presents a significant opportunity for builders and investors looking to reduce entitlement timelines and accelerate project execution. The property features a large rear yard with excellent access, a detached garage, oversized rear parking area, mature trees, and strong lot functionality that supports the approved multi-family redevelopment. The approved 4-plex with 4 legal basement suites offers an attractive opportunity to capitalize on Calgary’s growing demand for well-located multi-family housing in established inner-city communities. Positioned near schools, parks, shopping, transit, and major commuter routes, this location offers exceptional convenience for future residents and strong long-term investment fundamentals. Multiple schools and green spaces are located nearby, adding to the area’s family-friendly appeal and future resale desirability. Whether you’re looking to build immediately or secure a redevelopment site with substantial upside potential, 2211 41 Street SE presents a compelling opportunity in an established Calgary neighbourhood. (id:65958)
Main level
| Room | Dimensions | Features |
|---|---|---|
| 4pc Bathroom | 5.08 Ft x 6.92 Ft | |
| Bedroom | 8.25 Ft x 12.92 Ft | |
| Dining room | 6.42 Ft x 8.67 Ft | |
| Kitchen | 14.58 Ft x 9.33 Ft | |
| Living room | 12.00 Ft x 13.42 Ft | |
| Primary Bedroom | 12.00 Ft x 9.83 Ft |
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-6.81%
Cap rate
3.50%
GRM
16.7
Break-even rent
$4,027
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 5, 2026.
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Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.