Located on a west-facing corner lot in Elmwood Park, this 6,440 sq. ft. property presents an excellent opportunity for builders, investors, and purchasers exploring CMHC MLI Select multi-family development potential. The existing bungalow offers 2 bedrooms and 1 full bathroom and is currently tenant occupied, providing holding income while future redevelopment plans are considered. The home features a partially finished basement with a large recreation area that could serve a variety of future uses, along with substantial unfinished space ideal for storage or additional development. The fenced yard and prominent corner positioning further enhance the property's long-term potential. Convenient access to major transportation routes, including the Yellowhead Trail, provides excellent connectivity throughout the city. Immediate possession may be available, subject to assumption of the existing tenant.