4738 50 Street E

Detached For Sale in Downtown, Sylvan Lake

$349,900
  • 1 Beds
  • 1 Baths
  • 6,484 Sq. Ft.
  • Built 1947
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This quaint cabin is located only blocks from Lake Shore drive close to shops, restaurants and playgrounds! The cabin has back-alley access with room for RV parking, a detached garage and has been rezoned for multifamily and or commercial mixed use, making this an ideal purchase for investors! The double lot measuring 6499 square feet is centrally located and is currently running as a licenced Airbnb from May through September for $180-$250/night, renting for $1600 fully furnished including utilities in the off season. Please note this property cannot be purchased with conventional CMHC 5% down lending, and the rezoning does not allow for a single family detached home or major renovations to the existing structure. Recent upgrades include; a new roof, eves and gutters were all replaced, and the interior painted spring of 2024. There was foundation work and some insulation added in spring of 2025. An amazing opportunity to own in the hub of Sylvan Lake!
Address
4738 50 Street E
List Price
$349,900
Property Type
Residential
Type of Dwelling
Detached
Style of Home
Bungalow
Transaction Type
sale
Area
Sylvan Lake
Sub-Area
Downtown
Bedrooms
1
Bathrooms
1
Floor Area
6,484 Sq. Ft.
Lot Size
6490 Sq. Ft.
Year Built
1947
MLS® Number
A2251325
Listing Brokerage
Royal LePage Network Realty Corp.
Basement Area
Crawl Space, None
Postal Code
T4S1G8
Zoning
DC-50
Site Influences
Treed, Fruit Trees/Shrub(s), Front Yard, Back Yard, Interior Lot, Playground, Lake, Sidewalks, Golf, Fishing, Back Lane, Schools Nearby, Shopping Nearby, Walking/Bike Paths
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Lime Green Realty Inc

Office: 403-505-0066

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Red Deer AB

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* Compared to a typical rate of 6% on the first $100,000 and 3% on the balance of the sale price, not applicable for agent or relocation referrals.

* *Get paid up to $1,500 in cash-back when you purchase with Lime Green Realty®. Ask us for details. ***$4,000 flat fee commission only applicable on properties listed up to $600,000. 1% listing commission applicable on properties over $600,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Lime Green Realty® Central is a licensed user of the Lime Green Realty® trademark. Lime Green Realty® is owned by Lime Green Realty Franchising Inc.