2240 35 Street Sw, Calgary

Attention developers, investors, and visionaries—this is the opportunity you’ve been waiting for. Welcome to 2240 35 Street SW, a rare 50 ft × 120 ft CORNER lot in the heart of Killarney, one of Calgary’s most desirable and fastest-growing inner-city communities. Priced at just $999,900, this property combines location, zoning, and long-term potential into a package that is truly unmatched.
Currently home to a classic bungalow property (handyman special and being sold AS-IS), the real value here lies in the land and the endless possibilities it offers. With R-CG zoning already in place, you could build up to 4 townhouses, each with its own legal basement suite, subject to City of Calgary permits and approval. That’s a potential of up to 8 doors total—ideal for creating a profitable multi-family rental portfolio, selling individual townhouses, or holding as a long-term asset under CMHC’s MLI Select program, which offers 75–95% financing with amortizations of up to 50 years for qualifying projects.

Neighbourhood demand is strong. New townhouses in Killarney have recently been selling in the low- to mid-$800s each. With multiple units plus additional suite income, this lot presents a compelling opportunity for future development. Buyers are encouraged to complete their own due diligence to confirm resale values, rental potential, and project viability.**

Why Killarney? This vibrant community is minutes from downtown and offers everything today’s buyers and renters are looking for. You can walk to shops, cafés, and restaurants along 17th Avenue and Marda Loop, enjoy convenient daily amenities at Westbrook Mall and surrounding shops, and benefit from quick access to Westbrook C-Train Station, Bow Trail, and Crowchild Trail for effortless commuting. Lifestyle amenities nearby include the Killarney Aquatic & Recreation Centre, Shaganappi Point Golf Course with its skyline views, and numerous parks and schools.

This lot’s corner exposure provides superior design flexibility and curb appeal for future builds, while its established location ensures strong resale and rental demand. Adding to its appeal, the property backs onto a paved alley—a practical upgrade over gravel lanes that enhances access, cleanliness, and future garage design.

Whether you choose to redevelop immediately or hold for the future, this property represents a secure, high-potential investment in one of Calgary’s most attractive inner-city districts. Opportunities like this are rare. 2240 35 Street SW is more than just a piece of land—it’s the foundation for your next successful project.

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