Rare opportunity to own a fully licensed 7-bedroom, 7-bathroom lodging house in sought-after McKernan, just steps from the University of Alberta. Operating with valid Development, Building, and Business permits, this turn-key property offers a rare legalized student/professional housing setup in one of Edmonton’s strongest rental markets. Situated on a 49.5' x 130' lot (approx. 600 sqm), the 2-storey home features 7 bedrooms, 7 full baths, including 5 ensuites. Walking distance to the U of A and McKernan/Belgravia LRT stations ensures consistent tenant demand. Major upgrades include a new roof with 15-year workmanship warranty, interconnected smoke/CO detectors, upgraded basement egress windows, vinyl windows, PEX plumbing, 100-amp service, newer furnace, and 2024 hot water tank. Generating approximately $5,000/month in gross rental income, this high-yield investment also offers significant future redevelopment potential.
Two-story residence featuring light-toned horizontal siding with dark trim accents
Bright room featuring light wood-finish flooring, recessed ceiling lighting, and a large multi-pane window with wood-trim framing
Bathroom featuring a pedestal sink with chrome faucet, a circular mirror with a gold-tone frame, and a curved stand-up shower with integrated shelving
Room featuring light wood-finish flooring, white walls, and a window with wood trim
Bathroom featuring white ceramic wall tiling with floral accent tiles, a white porcelain sink, and a chrome faucet
Bright kitchen featuring white cabinetry, subway tile backsplash, stainless steel range with overhead hood, double basin sink, and tile flooring with accent squares
Kitchen featuring white cabinetry, subway tile backsplash, stainless steel appliances, and a double basin sink
Light wood-finish flooring with white baseboards and walls
Room featuring wood-finish flooring, two window openings with wood trim, light blue wall paint, and a ceiling fan with integrated lighting
Bathroom featuring white ceramic wall tiles with a red accent band, a white pedestal sink with a chrome faucet, and a round wall-mounted mirror
Bathroom featuring a round mirror, single vanity with integrated sink, wood-finish flooring, built-in shelving, and a toilet
Light-filled room featuring wood-finish flooring, three distinct windows with wood trim, and a ceiling fan with integrated lighting
Dark gray asphalt shingle roof with multiple roof vents and a metal chimney
Courtesy of Fan Yang and Chuxiong Miao of Mozaic Realty Group
Data was last updated June 13, 2026 at 07:30 PM (UTC)
Area Statistics
Listings on market:
148
Avg list price:
$721,950
Min list price:
$175,000
Max list price:
$4,900,000
Avg days in system:
32
Min days in system:
1
Max days in system:
526
Avg price per sq.ft.:
$482.07
These statistics are generated based on the current listing's property type
and located in
Zone 15. Average values are
derived using median calculations. This data is not produced by
The Association's MLS® System.
Data last updated on June 13, 2026 at 07:30 PM (UTC).
Copyright 2026 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
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