This massive 7825 ft2 R-CG corner lot is a fantastic development opportunity in Montgomery! It offers an incredible opportunity to develop 8units. Development Permit has been approved and awaiting Release. The approved DP Plans feature 4No 3bedroom two-storey upper units on the 2nd & 3rd floors each with a cover garage and 4No 2bedroom two-storey lower-level units on the main floor & basement. With this unique design the living area of the lower units are on the main floor with separate entrances. The Seller shall secure the DSSP and the estimated amount for City of Calgary Development Levy indicated in the notification of Decision. The Buyer shall be responsible for all other DP Release conditions and Building Permit. The existing home is a charming 2-bed, 1-bath bungalow with an unfinished basement and is currently tenant occupied. Buyer has the opportunity to continue the lease till when ready for construction. The main floor boasts durable laminate flooring throughout. The kitchen has been updated with white cabinetry and newer appliances, while most windows have been replaced for improved efficiency. The unfinished basement provides excellent additional storage. Notable upgrades include a newer furnace and an Instant Hot Water Tank, ensuring year-round comfort. The property also boasts a large yard and a single attached garage. Located in Montgomery, this property is close to an abundance of parks and amenities. Enjoy outdoor activities at Montgomery Pump Park, the Bow River Pathway System, Edworthy Park, and Shouldice Park. Shopping and dining options are numerous, with Montgomery Main Street, University District, and Market Mall just minutes away. Food lovers will appreciate the proximity to popular spots such as OEB Breakfast, Charcut, Village Ice Cream, UNA Pizza, The Keg, and Notable - these factors work in tandem to make this property a viable investment! This location also enjoys easy access to the University of Calgary, Alberta Children's Hospital, and Foothills Hospital. Commuting is effortless with quick connections to 16th Ave, Memorial Drive, and Stoney Trail.