Income today. Development potential for tomorrow. Welcome to this exceptional opportunity in the highly sought-after community of Kingsland. Situated on a spacious 50' x 120' H-GO (Housing - Grade Oriented) lot, this property offers immediate rental income potential along with exciting future redevelopment possibilities (subject to City approvals and development permit requirements.) Whether you're an investor looking to expand your portfolio, a builder seeking your next project, or a homeowner wanting the flexibility of mortgage-supporting income, this property delivers outstanding value in a prime inner-city location. This 2 bedroom raised bungalow features a LEGAL 2-bedroom basement suite, creating two fully independent living spaces, each with their own private entrance, laundry facilities, two bedrooms, and a full 4-piece bathroom. This highly desirable setup provides excellent rental appeal and flexibility for multi-generational living. The upper level offers a bright and spacious living room, an updated kitchen complete with granite countertops, ample cabinetry, and a pantry cupboard for additional storage. The primary bedroom features the rare advantage of dual closets, while a second bedroom and full bathroom complete the main floor. Downstairs, the legal suite provides a comfortable and functional layout with its own kitchen, living area, two bedrooms, full bathroom, and separate laundry, making it ideal for tenants or extended family. Outside, the large backyard offers plenty of space for outdoor enjoyment while the generous lot size creates exciting future possibilities. Parking is abundant with space for two vehicles in the front driveway and an additional three parking stalls accessible from the rear of the property. Numerous updates provide added peace of mind, including replacement windows (approximately 2013), a sewer line sleeve installed in 2021, new shingles in 2025, new downspouts in 2025, and a newly installed bathroom fan on the upper level in 2025. Location is everything, and this property delivers. Ideally situated in the established community of Kingsland, you're just minutes from Chinook Centre, schools, parks, transit, the C-Train, MRU and major transportation routes. Residents enjoy quick access to downtown Calgary while benefiting from the convenience of nearby shopping, dining, and everyday amenities. Generate rental income while planning for the future, capitalize on the redevelopment potential of the H-GO zoning, or live in one suite while offsetting your mortgage with rental revenue from the other. Opportunities that combine cash flow, flexibility, and long-term upside in a location like this are increasingly hard to find. This is an investment in both the present and the future.