Detached for sale at 1502 40 Street SE in Forest Lawn, Calgary

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1502 40 Street SE
Forest Lawn Calgary T2A 1K2

$599,900
Residential beds: 5 baths: 2.0 940 sq. ft. built: 1958

Main Photo: Detached for sale at 1502 40 Street SE in Forest Lawn, Calgary
Photo 1: Detached for sale at 1502 40 Street SE in Forest Lawn, Calgary
Photo 2: Detached for sale at 1502 40 Street SE in Forest Lawn, Calgary
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2334579
Bedrooms:
5
Bathrooms:
2
Year Built:
1958
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 Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Suite:
Yes
Num Legal Suites:
0
Num Illegal Suites:
1
Home Style:
Bungalow
Total Living Area:
940.46 sq. ft.
Main Level Finished Area:
940.46 sq. ft.
Below Grade Finished Area:
896.19 sq. ft.
Acreage:
No
Lot Area:
5,102 sq. ft.
Lot Frontage:
50'
Front Exposure:
West
Unit Exposure:
West
Levels:
Bi-Level
Total Rooms Above Grade:
6
Year built:
1958 (Age: 68)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms On Main:
3
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Num Ensuite Baths:
0
Plan:
7113GW
Heating:
Central, Mid Efficiency, Forced Air, Natural Gas
Basement:
Full, Finished, Separate/Exterior Entry
Foundation:
Brick/Mortar
New Constr.:
No
Construction Material:
Brick
Structure Type:
House
Roof:
Shingle
Ensuite:
No
Flooring:
Laminate
Cooling:
None
Fireplaces:
2
Fireplace Details:
Wood Burning
Garage:
Yes
Garage Spaces:
4
Parking:
Double Garage Detached, Off Street
Parking Places:
4
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room
Southeast
Forest Lawn
Electric Cooktop, Electric Oven, Range Hood, Refrigerator, Washer/Dryer
NONE
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
10'8" × 10'4"
Main Floor
Bedroom
12'2" × 10'
Main Floor
Hall
9'10" × 3'
Main Floor
Kitchen With Eating Area
13'5" × 12'1"
Main Floor
Living Room
15'10" × 14'3"
Main Floor
Bedroom - Primary
12'2" × 11'10"
Basement
Bedroom
12'7" × 11'6"
Basement
Bedroom
10'5" × 10'3"
Basement
Hall
8'8" × 3'4"
Basement
Hall
8'11" × 7'1"
Basement
Kitchen
10'4" × 8'1"
Basement
Laundry
12'7" × 7'3"
Basement
Game Room
13' × 10'6"
Basement
Storage
7'8" × 3'8"
Basement
Furnace/Utility Room
5'11" × 4'4"
Basement
Furnace/Utility Room
1'10" × 1'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5'2" x 10'10"
Basement
No
3
6'5" x 7'1"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Ceiling Fan(s), Central Vacuum, No Animal Home, No Smoking Home, See Remarks, Separate Entrance, Storage, Vinyl Windows
Exterior Features:
Garden, Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Back Yard, Corner Lot, Front Yard, Garden, Landscaped, Lawn, Standard Shaped Lot, Street Lighting, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone E
Zoning:
R-CG
Listed Date:
Aug 04, 2026
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Listed by CIR Realty
Data was last updated August 24, 2026 at 06:05 PM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$558,500
Min list price:
$99,900
Max list price:
$795,000
Avg days on market:
35
Min days on market:
2
Max days on market:
108
Avg price per sq.ft.:
$512.07
These statistics are generated based on the current listing's property type and located in Forest Lawn. Average values are derived using median calculations. This data is not produced by the MLS® system.
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