1306 1st Avenue Canmore, AB T1W 1M4

Attention investors, developers, and those seeking a stunning bungalow to call home! This exceptional property offers not only immediate comfort, aptly named your dream home, but also incredible future potential for redevelopment into a duplex, fourplex, or more, pending city approval. Boasting a spectacular 360-degree mountain view, this home sits on a spacious 4,326 sq ft lot, blending charm, function, and opportunity.Currently rented and generating a rental income of $5,200 per month, this property provides immediate financial returns while offering future potential.
As you enter, a welcoming front yard and deck greet you, with wide stairs leading to the front door. Step inside to a mudroom perfect for shoe racks and jackets. The home offers privacy with separate doors for the main level and the illegal basement. The main level is bright and airy, featuring an open-concept living area that seamlessly connects to a beautiful kitchen and dining area. The living space is enhanced by a cozy fireplace framed with built-in shelving and offers stunning mountain views from almost every angle. The master bedroom, an additional bedroom, and a well-appointed 4-piece bathroom complete the floor. A back door leads to a spacious lawn where you can relax and enjoy uninterrupted mountain vistas.
The developed illegal basement is a standout, boasting high ceilings, in-slab heated floors, and large windows that allow natural light to pour in. It includes a spacious family room with a built-in wet bar, two additional bedrooms, a second 4-piece bath, a full laundry room, and ample storage. The family room and bedrooms also feature mountain views, adding to the basement’s appeal.
Outside, a large deck with a built-in kitchen is perfect for entertaining while overlooking the expansive, fenced yard. Mature trees, a flower garden, and a fish pond create a peaceful outdoor sanctuary. Additionally, a small sunroom attached to the mudroom offers a cozy spot to enjoy summer days with your family or friends.
This property is situated on the valley floor, ensuring ample sunlight and breathtaking 360° views from every angle. For those considering future development, the property is zoned under the TPT-CR Teepee Town Comprehensive Redevelopment District. This provides an exceptional opportunity for redevelopment, with permitted uses including accessory buildings, accessory dwelling units (attached or detached), duplex dwellings, home occupations (Class 1), open spaces, public utilities, townhouses, and stacked townhouses. Discretionary uses include bed and breakfast operations, care facilities, common amenity housing, cultural establishments, daycare centers, home occupations (Class 2), and public buildings—all subject to city approval.
Great Location: Located within walking distance of downtown, this home is perfectly positioned near many of the area’s most desirable amenities, including a wide variety of restaurants, parks, hotels, cafés, recreational centre, a hospital, grocery stores.