Many Canadians have developed an interest in owning an income property or have already begun adding different investment opportunities to their portfolio. One of the most common options is to purchase a home with multiple units like a multiplex or a home with a secondary suite. These options allow you to live in the property while renting out other units, or bring in rental income from the entire building.
Alberta is one of Canada’s strongest real estate markets right now and Canadians from all over the country are noticing. Here are 16 listings with income generation potential ranging from the mid $400s to $3 million in some of the provinces’ most desirable cities.
Tip: Zoocasa’s home search offers filtering and segmentation tools that allow you to easily search for properties with a basement unit, or that are a duplex, triplex, or fourplex. Use these filters to find income properties available in your region.
Income Properties Under $500,000
1. 2812 68 Avenue – $499,900, Lloydminster
Property details:
- 5 beds, 3 baths, 2 parking
- Detached
- Walking score 17/Transit score N/A
Custom built in 2015, this home features five bedrooms with its own complete rental suite in the basement. The suit has its own entrance, a living room, kitchen and two bedrooms, as well as a four-piece bathroom.
View the listing here.
2. 131 Wolverine Drive – $484,900, Wood Buffalo
Property details:
- 5 beds, 2 baths, 5 parking
- Detached
- Walking score 38/Transit score N/A
This home has undergone extensive upgrades, with three bedrooms on the main floor, and a separate bedroom with a full kitchenette in the basement in case you want to turn it into an investment opportunity.
View the listing here.
3. 10907 Elbow Drive Southwest – $499,900, Calgary
Property details:
- 4 beds, 2 baths, 3 parking
- Detached
- Walking score 58/Transit score 59
The fully finished suite in the basement of this home could provide an additional source of income. It has a bedroom, three-piece bathroom, large living room and a kitchen.
View the listing here.
Income Properties Under $750,000
1. 11 Saddlecrest Terrace North East – $699,000, Calgary
Property details:
- 5 beds, 3 baths, 4 parking
- Detached
- Walking score 12/Transit score 54
This family home has four bedrooms on the upper level, as well as a one bedroom basement apartment complete with a kitchen, dining area, living room and three-piece bathroom.
View the listing here.
2. 167 Magnolia Terrace South East – $749,900, Calgary
Property details:
- 5 beds, 4 baths, 2 parking
- Detached
- Walking score N/A/Transit score 33
The two bedroom, two bathroom legal suite provides an excellent opportunity for additional income. It has its own separate entrance, as well as a full kitchen, living room, and an ensuite in one of the two bedrooms.
View the listing here.
3. 109 Taralake Manor North East – $749,900, Calgary
Property details:
- 6 beds, 4 baths, 5 parking
- Detached
- Walking score 18/Transit score 40
This seven bedroom home has a basement suite with a separate entrance. The suite has two large bedrooms, a living area, a big kitchen, and a separate laundry room for privacy.
View the listing here.
Income Properties Under $1,000,000
1. 158 Lucas Terrace North West – $849,900, Calgary
Property details:
- 6 beds, 3 baths, 2 parking
- Detached
- Walking score N/A/Transit score 26
The legal basement suite is accessible through a separate side entrance. It has a spacious kitchen, as well as plenty of living space, giving you the opportunity to live in the upper half while renting out the basement.
View the listing here.
2. 1325 11 Avenue South East – $925,000
Property details:
- 5 beds, 3 baths, 3 parking
- Detached
- Walking score 80/Transit score 55
Renovated in 2014, this 4+1 bedroom home offers a large rec room in the basement with a gas fireplace and attached summer kitchen, as well as an additional bedroom and full bathroom.
View the listing here.
3. 19 Waterford Heights – $979,000, Chestermere
Property details:
- 6 beds, 5 baths, 6 parking
- Detached
- Walking score 30/Transit score N/A
Brand new, this custom built home has six bedrooms, including two in the legal basement. The suite also has a small kitchenette and plenty of living space.
View the listing here.
Income Properties Below $1,500,000
1. 1425 2a Street North West – $1,350,000, Calgary
Property details:
- 5 beds, 4 baths, 2 parking
- Detached
- Walking score 72/Transit score 58
This home was built with a luxury legal secondary suite, featuring a seperate entrance, in-floor heating, laundry room, kitchen, and 10-foot ceilings.
View the listing here.
2. 1259 Eagle View Court South West – $1,490,000, Medicine Hat
Property details:
- 5 beds, 4 baths, 4 parking
- Detached
- Walking score 7/Transit score N/A
This bungalow features a fully developed walk-in basement, with its own large rec room and wet bar, three spacious bedrooms, two full bathrooms and a summer kitchen.
View the listing here.
3. 1200 Range Road 254 Road – $1,500,000, Strathmore
Property details:
- 6 beds, 4 baths, 8 parking
- Detached
- Walking score N/A/Transit score N/A
This 5-acre property has a fully-finished basement with a large family room, kitchen and two bedrooms, as well as a separate, private entrance acessible through the garage.
View the listing here.
Income Properties Available Under $2,000,000
1. 13 – 38349 Rr270 – $1,795,000, Red Deer County
Property details:
- 5 beds, 3 baths, 0 parking
- Detached
- Walking score N/A/Transit score N/A
This stunning home, built by McGonigal Signature Homes, has five bedrooms and a fully finished walk-out basement, with an additional suite above the garage perfect for using as an in-law suite or as an additional income space.
View the listing here.
2. 95037 Range Road 213a – $1,925,000, Lethbridge County
Property details:
- 5 beds, 5 baths, 2 parking
- Detached
- Walking score N/A/Transit score N/A
The enclosed suite in this five-bedroom home is ideal for additional income. It has a separate entrance, kitchen and laundry room, as well as additional bedrooms.
View the listing here.
3. 331 Marten Street – $1,950,000, Banff
Property details:
- 9 beds, 4 baths, 4 parking
- Duplex
- Walking score 86/Transit score 44
This duplex property is an excellent opportunity for extra revenue. It features nine bedrooms which can be used for accommodation or even allow the owners to live in the back unit and rent out the rest of the nine-bedroom home.
View the listing here.
If you’re shopping for an income property, check out our free downloadable Home Buyer’s Guide to get you started.
