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done deal

Real Estate Professionals Inc.

3038 1 St., SW, Calgary

Asking price: $999,900 (July, 2021)

Selling price: $920,000 (August, 2021)

Taxes: $5,677 (2021)

Days on the market: 14

Listing agents: Donna Rooney and Gary Cronin, Real Estate Professionals Inc.

Buyers’ agent: Kamil Lalji, CIR Realty

This two-bedroom bungalow has 1,332 square feet of living space, including one bathroom and separate living and dining areas.Real Estate Professionals Inc.

THE ACTION

Clients of agent Kamil Lalji hoped to spend about $800,000 for an inner-city lot to build their dream home. However, they stretched their budget to $920,000 to purchase this 94-year-old bungalow on a 50-foot-by-125-foot property southwest of the downtown core, near the Elbow River and Roxboro Park.

“There’s a decent amount of bungalows that remain, however, a lot of them are kept up to date, so they don’t often trade at these prices where it makes sense to knock them down,” Mr. Lalji said.

“The sellers turned down our offer and we told them if they changed their mind to let us know, so they had the weekend to think about it and probably went through a couple other showings. Then, they got back to us to say they were willing to take our offer.”

WHAT THEY GOT

This two-bedroom bungalow has 1,332 square feet of living space, including one bathroom and separate living and dining areas. The basement is unfinished.

The house is located on a full-sized, 50 by 125 feet, flat lot, which is helpful for redevelopment.Real Estate Professionals Inc.

THE AGENT’S TAKE

“It’s a full-sized lot – 50 by 125 feet – and it’s a flat lot, which is helpful for redevelopment,” Mr. Lalji said.

“And it’s on a beautiful and quiet, tree-lined street in the Roxboro area, which is a premier area of Calgary.”

The pedestrian-friendly community is thriving years after a devasting city-wide flood in 2013.

“On the east side, it’s bound by an off-leash park, playground, tennis courts and an outdoor rink, and on the north side is the Elbow River,” Mr. Lalji said.

“With the recent upgrades to the Glenmore Reservoir and the news of funding for the Springbank dam project, my buyers felt confident that the risk of damage due to a flood of that magnitude would be unlikely to happen again.”

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