Situated just steps from the Red Deer Hospital and close to shopping, restaurants, and groceries, this large 47' x 120' lot is zoned R-M, which permits multi-family development. The existing home is currently rented for $1,500/mo with the tenants paying all utilities. This older but well-maintained home has seen minor renovations including an updated kitchen and a newer high-efficiency furnace. It offers 2 bedrooms on the main floor and a 3rd bedroom in the basement with its own 2-piece bathroom, plus a large rec room. There is a single detached garage at the back, and the lot is fully fenced with a large yard.