Calgary Realtor

$740,000 · For Sale
191 Magnolia Way SE, Calgary, Alberta
3+2Bedrooms
3+1Bathrooms
1,747sq ft
265m² Lot
6Days on Market

About This Property

INVESTOR ALERT! A TRULY TURNKEY, HANDS-OFF INVESTMENT WITH GREAT TENANTS ALREADY IN PLACE! Built in 2023 by Hopewell Residential, this exceptionally well-maintained property offers an opportunity to own a premium income-generating home in the highly sought-after lake community of Mahogany. Featuring a spacious upper residence plus a LEGAL 2-bedroom basement suite, the property currently generates a combined $4,550/month ($54,600/year) in gross rental income from both units. The hard work has already been done, simply take over an established, income-producing property from day one. The upper residence stands out with impressive 10-foot ceilings, bright modern living spaces, a spacious kitchen, comfortable living and dining areas, well-sized bedrooms, a 5-piece ensuite and access to the double detached garage. The garage is equipped with an added subpanel to accommodate a future EV charger, an increasingly desirable feature for tenants. Both the front and backyard are fully maintenance-free, adding convenience for tenants while minimizing ongoing exterior upkeep for the owner. The LEGAL 2-bedroom basement suite feels anything but typical, with 9-foot ceilings, its own kitchen, living area, bathroom and separate entrance, creating a bright and comfortable independent living space. The outdoor areas have also been thoughtfully divided with double fencing, giving each unit its own private space. This property was designed with tenants in mind. The combination of a newer 2023 build, high ceilings on both levels, a legal suite, private outdoor spaces, maintenance-free landscaping and a double garage helps set it apart from a typical rental and makes it particularly attractive to quality, long-term tenants. Great tenants are already secured in both units, providing immediate and established rental income. No renovations to complete, no tenants to find and no maintenance to worry about, this property is truly set up to be a hands-off investment. Located in one of Calgary’s most desirable lake communities, residents enjoy access to Mahogany Lake and its year-round amenities, extensive pathways, parks, playgrounds, schools, shopping and restaurants, with convenient access to major roadways. For an investor looking for a newer, income-producing property without the usual upfront work, this is about as turnkey as it gets.

Key Features

  • Built in 2023
  • House
  • Freehold
  • Basement: Finished, Full, Separate entrance, Suite
  • Detached Garage, Other Parking
  • Forced air, Natural gas Heat

Property Details

Community Mahogany
Property Type Single Family
Building Type House
Storeys 2
Year Built 2023
Ownership/Title Freehold
MLS® Number A2345952

Size & Land

Finished Area 1,747 sq ft
Land Size 265 m² Lot

Building Features

Basement Finished, Full, Separate entrance, Suite
Heating Forced air, Natural gas
Cooling None
Foundation Poured Concrete

Parking

Parking Type Detached Garage, Other
Parking Spaces 2

Financial & Other

Property Taxes $5,263/yr

Location

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Map location is approximate.

Estimated Monthly Payment

$3,143/mo

Based on 20% down, a 4.09% rate and 25-year amortization. Your actual payment will depend on your rate, down payment, and lender.

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Listing courtesy of eXp Realty · Calgary Real Estate Board
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ED
Evans Dobey
REALTOR | CIR Realty
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