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.