This raised bungalow in the heart of Bowness offers exceptional value with just over 1160 SQFT of living space, 5 bedrooms, 2.5 bathrooms, and a spacious tenanted illegal basement suite generating $1,500/month until January 15, 2026!! Set on a 4,908 SQFT R-CG zoned lot with 53 feet of frontage, the property presents strong redevelopment potential in a rapidly evolving northwest community. The home features two cozy wood-burning fireplaces, separate entrances for each level, shared laundry, and a double detached garage. Recent upgrades include a boiler (2010), a newer hot water tank (2024), asphalt shingles replaced in 2010, a new coat of paint on the exterior, and brand new carpets, stainless steel fridge and stove! Located near the Bow River, Bowness Park, multiple schools, shopping, and major transit routes, this is a fantastic opportunity for investors, developers, or those seeking a flexible property for multi-generational living. Don't miss this upgraded, income-generating gem in desirable Bowness!