Attention builders, developers, and investors! Exceptional redevelopment opportunity in the heart of Forest Lawn. This R-CG zoned property is ideally located just two blocks from vibrant 17 Avenue SE (International Avenue), surrounded by ongoing redevelopment in one of Calgary?s most active inner-city growth corridors. Minutes to downtown, transit, shopping, restaurants, schools, and major commuter routes. A rare opportunity offering immediate cash flow today and exceptional redevelopment potential for tomorrow. This income-producing property features 5 bedrooms, 2 bathrooms, and a legal secondary suite. The main floor offers 3 bedrooms and a beautifully renovated bathroom with subway tile, new tub, vanity, and tile flooring. The updated kitchen features stainless steel appliances and a subway tile backsplash. Many windows have been replaced throughout the home. The legal lower suite includes 2 spacious bedrooms, large windows, a renovated kitchen with full appliances and ample counter space, an updated bathroom, shared laundry, and additional storage. Major updates include renovated main floor bathroom, renovated lower suite and kitchen, updated windows, furnace, and a 2021 hot water tank. The property also offers a single detached garage with additional rear parking. The true value lies in the future potential. This R-CG property comes with a fully approved Development Permit (DP) for a triple detached garage with a suite above released March 2026 . Approved plans are included, allowing you to eliminate entitlement risk, significantly reduce your project timeline, and save thousands in consultant fees and soft costs. Build with confidence using this permit-ready opportunity while generating rental income from day one. Whether you?re looking for a strong cash-flow investment or your next inner-city development project, this is a rare opportunity in a sought-after location with exceptional upside.