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1502 40 Street SE $599,900
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$599,900
1502 40 Street SE
Forest Lawn, Calgary · 5 Bedrooms · 2.0 Baths · 940 sqft · Detached
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About This Home

SHOWS 10/10! ATTENTION FIRST-TIME HOMEBUYERS, BUILDERS AND DEVELOPERS! This property is a CORNER LOT HOME and presents an outstanding opportunity in a growing area with excellent access to transit, schools, parks, and shopping. EXPLORE THE POTENTIAL FOR FUTURE MULTI-UNIT REDEVELOPMENT, including a 4-plex, subject to City of Calgary approval and all applicable regulations. Welcome to this WELL-MAINTAINED BUNGALOW situated on a large lot in a convenient SE Calgary location. Offering over 1,700 SQ. FT. OF DEVELOPED LIVING SPACE, this property features 5 BEDROOMS, 2 FULL BATHROOMS, BASEMENT SUITE (Illegal), AND A MASSIVE OVERSIZED DOUBLE DETACHED GARAGE, making it an excellent opportunity for homeowners, multi-generational families, or savvy investors. The main floor offers approximately 880 SQ. FT. ABOVE GRADE and showcases a bright and spacious living room highlighted by a cozy fireplace, a functional kitchen with ample cabinetry and dining space, a generous PRIMARY BEDROOM, two additional bedrooms, and a full 4-piece bathroom. The fully developed basement features a SEPARATE ENTRANCE, its own kitchen, a large recreation/living area, 2 ADDITIONAL BEDROOMS, a 3-piece bathroom, laundry area, and plenty of storage space—providing excellent flexibility for extended family living or mortgage-helper potential. Recent upgrades include an UPGRADED WASHER AND DRYER and a NEWER HOT WATER TANK, offering added value and peace of mind. Additional conveniences include a CENTRAL VACUUM SYSTEM and a WHOLE-HOUSE WATER FILTRATION SYSTEM, enhancing everyday comfort and functionality. Outside, you'll appreciate the beautifully maintained yard, LARGE PRIVATE BACKYARD, expansive patio area, and an impressive OVERSIZED DOUBLE DETACHED GARAGE with approximately 597 SQ. FT. OF SPACE, perfect for vehicles, tools, hobbies, workshop use, or additional storage. Ample off-street parking further adds to the property's appeal. Ideally located close to schools, shopping, public transit, parks, playgrounds, major roadways, and downtown Calgary, this property offers the perfect blend of convenience, versatility, and income potential. Whether you're looking to live up and rent down, accommodate a growing or multi-generational family, or add a solid revenue property to your investment portfolio, this home delivers exceptional value and endless possibilities. DON'T MISS THIS INCREDIBLE OPPORTUNITY!

Property Details
Overview
Property Type
Residential
Style
Detached
Year Built
1958
Levels
Bi-Level
Architecture
Bungalow
Construction
Brick
Ownership
Fee Simple
Zoning
R-CG
Possession
Immediate
MLS® Number
A2334579
List Date
Aug 4, 2026
Days on Market
7 days
Size & Rooms
Living Area
940 sq ft
Bedrooms
5
Bathrooms
2.0
Full Baths
2
Above Grade
3 beds
Main Level
940 sq ft
Lower Level
896 sq ft
Garage Spaces
4
Lot Size
5,102 Square Feet
Interior
Appliances
Electric Cooktop,Electric Oven,Range Hood,Refrigerator,Washer/Dryer
Interior Features
Ceiling Fan(s),Central Vacuum,No Animal Home,No Smoking Home,See Remarks,Separate Entrance,Storage,Vinyl Windows
Flooring
Laminate
Heating
Central,Mid Efficiency,Forced Air,Natural Gas
Cooling
None
Laundry
Laundry Room
Fireplace
2 fireplace(s)
Inclusions
NONE
Exterior & Parking
Exterior Features
Garden,Private Yard
Parking Features
Double Garage Detached,Off Street
Parking Total
4
Patio / Porch
Patio
Direction Faces
W
Financial & Legal
Annual Tax
$3,268 (2026)
Legal Description
7113GW;13;5
Parcel Number
0016269961
Listing provided by CIR Realty via Pillar9™ / CREB®. Last updated Aug 11, 2026. MLS®, REALTOR®, and the associated logos are trademarks of CREA.
Your Agent
Robb Leece
Robb Leece
REALTOR®
Graham Realty Inc.
📞 403-478-4335 robbleece@gmail.com
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