Investors and small-scale developers, this is a strategic holding and redevelopment opportunity in one of Central Alberta’s most stable rental markets.
This 0.546 acre parcel is zoned R3 (Multi-Residential District), allowing for higher-density residential development such as a 4-plex or larger multi-unit project (subject to Town approval). Lots of this size, with this zoning, and this proximity to amenities are increasingly difficult to find within town limits.
The property is ideally positioned less than 1 km walking distance to both Olds College and Uptown Olds. Olds College is a major local employer and regional draw, supporting consistent rental demand from students, faculty, and service-sector employees. Uptown Olds provides grocery, banking, restaurants, and professional services — making this a true walkable location for future tenants.
The existing 1950 home includes 1 bedroom and 1 bathroom on the main floor, plus an additional bedroom and bathroom in the basement, along with garage space equivalent to a 4-car garage. This allows a purchaser to obtain conventional financing and generate immediate rental income while planning a phased redevelopment strategy.
Olds continues to demonstrate steady population growth, full municipal servicing, and historically low vacancy rates compared to many rural Alberta communities. For investors, this translates into dependable rental absorption and long-term development viability.
Hold for cash flow. Develop for scale. Or secure the land today while options remain open.
Address
4829 54 Street
List Price
$349,000
Property Type
Residential
Type of Dwelling
Detached
Style of Home
Bungalow
Transaction Type
Sale
Area
Olds
Sub-Area
Other
Bedrooms
2
Bathrooms
2
Floor Area
636 Sq. Ft.
Lot Size
23797 Sq. Ft.
Year Built
1950
MLS® Number
A2285667
Listing Brokerage
CIR Realty
Basement Area
Partial
Postal Code
T4H 1G3
Zoning
R3
Site Influences
Back Lane, Brush, Back Yard, City Lot, Front Yard, Interior Lot, Level, Schools Nearby, Shopping Nearby, Rectangular Lot, Sidewalks, Street Lights, Street Lighting