5305 42 Avenue

Woodlea (Red Deer) Red Deer T4N 3A6

Discover a rare blend of character, comfort, and opportunity at 5305 42 Avenue, ideally situated in Woodlea, one of Red Deer's most mature and picturesque neighbourhoods. This fully updated 4-bedroom, 2-bathroom bungalow with a beautifully modernized living space, all while backing onto a tranquil treed reserve and just steps from local parks and amenities. Inside, you'll be impressed by the thoughtful, top-to-bottom renovations. From all new windows, tile and vinyl flooring, plumbing, and 200-amp electrical service, to the brand new kitchen and bathrooms—this home has been completely reimagined. The kitchen shines with sleek cabinetry, updated appliances, and a large walk-in pantry. The bathrooms are stunning, with tiled showers and marble countertops, while the primary bedroom features a spacious walk-in closet. Stay comfortable year-round with a high-efficiency furnace and hot water heater (2024). Enjoy outdoor living on the new covered deck with composite decking, or relax around the fire pit in the private, east-facing backyard that’s teeming with natural light and surrounded by wildlife. You’ll love the location—a short walk to Lindsay Thurber Comprehensive High School, Camille J. Lerouge Catholic School, Gateway Christian School, and a few minutes from Woodlea’s iconic green spaces like Gaetz Lake Sanctuary and Woody’s Athletic Park. Whether you're looking to get in your morning run, walk the dog, or send the kids off to school, everything is within reach. Downtown Red Deer, grocery stores, shopping, restaurants, and transit routes are all just minutes away, making this a supremely convenient central location. Additional highlights include: New siding, fascia, soffit, and foam insulation, New front porch and covered rear deck, Plumbed for a future backyard suite, Rear paved alley with 2 off-street parking stalls and 50-amp exterior power, Abundant on-street parking Bonus Investment Opportunity: The home includes a City-approved development permit for a legal backyard suite, which runs with the land and can be extended for up to 2 years. The site is already plumbed and prepped with a backflow valve, and approved building plans can be provided. This is a rare opportunity in Red Deer, where legal suite approvals are highly sought-after and hard to come by. Whether you're looking to live in and love the space or capitalize on its income potential, this beautifully updated bungalow offers unmatched value and versatility in an unbeatable location.