Rare opportunity to acquire a fully licensed, turn-key 7-bedroom, 7-bathroom lodging house in the premier neighborhood of McKernan, just steps from the University of Alberta. Operating under a valid Development Permit (DP), Building Permit (BP), and Business Licence (BL), this property offers a rare, fully legalized single-professional/student housing setup in one of Edmonton’s most high-demand rental corridors.Situated on a substantial 49.5’ x 130’ lot (approx. 600 sqm), this solid 2-storey home features a highly functional layout tailored for legalized shared accommodation, boasting 7 bedrooms and 7 full bathrooms (including 5 ensuites). Its unbeatable location is within easy walking distance to both the McKernan/Belgravia and U of A LRT stations, providing top-tier transit accessibility that ensures a consistent stream of tenant demand.The property offers outstanding operational reliability, with all major building systems meticulously upgraded over the years to ensure top-tier safety and structural peace of mind. Recent premium improvements feature a brand-new roof with 15 year workmanship warranty certificate, interconnected smoke/CO detectors throughout, and newly upgraded basement egress windows with fresh window wells. Mechanically superior and carefully maintained, the home is further enhanced by vinyl windows, upgraded PEX plumbing lines, a 100-amp electrical service, and a newer furnace and hot water tank (2024).Representing an exceptional, high-yield cash cow generating approximately $5,000 CAD in total monthly gross rental income, this premium property offers stable, immediate revenue with zero deferred maintenance. Combined with significant underlying land value and future high-density redevelopment potential, it is a bulletproof investment in a prime inner-city location. (id:32467)

Ammenities Near By

• Ammenities Near By: Schools, Shopping

Building

• Appliances: Dishwasher, Stove
• Basement Development: Finished
• Basement Type: Full (Finished)
• Construction Style: Detached
• Cooling Type: None
• Exterior Finish: Vinyl siding
• Fireplace: No
• Flooring Type: Hardwood, Tile, Vinyl Plank
• Interior Size: 1612 sqft
• Building Type: House
• Stories: 2

Features

• Feature: See remarks, Other, Back lane, PVC window, No Animal Home, No Smoking Home, Level

Land

• Land Size: 598.29 m2|4,051 - 7,250 sqft

Ownership

• Type: Freehold

Structure

• Structure: None

Zoning

• Description: RS

Information entered by First Place Realty
Listing information last updated on: 2026-06-26 20:21:12