Calgary Real Estate Geek
Home Communities Old Town 516 2 Avenue NE
$485,000 Sold
516 2 Avenue NE · Airdrie · T4B1R4
3 bd 2.0 ba 1,078 sqft $450/sqft Built 1970
MLS® A2278819 · Listed Jan 16, 2026
Listed by CIR Realty — Wesley Morrow, Kevin Niefer
By the numbers

How this listing measures up

$/sqft $450
vs Old Town median
Sqft per bedroom 359
Year built 1970
Annual taxes $3,686 2025
Garage 1 space

About this property

INVESTOERS ALERT!!!! Welcome to Old Town Airdrie—a prime location adjacent to the Service Commercial District (CS) that offers real opportunity for developers and savvy buyers. This property sits on a 75 x 120ft lot that could be used in a multitude of different ways for future development, or kept intact as a move-in ready home with a live/work setup. The current improvements consist of a fully developed 1,078 sq ft air-conditioned bungalow that has been extensively upgraded inside and out. On the main level you’ll find two bedrooms with California closets, a large office/den with built-in shelving, and an open-concept kitchen and dining area featuring, SS appliances, a gas stove & granite countertops and a breakfast bar. The front entrance opens to a bright living room with a fully operational brick fireplace and gas lighter, adding both ambiance and warmth. The master bedroom opens directly onto a huge deck, perfect for outdoor entertaining. The main level also includes a fully updated four-piece bath. The lower level is fully developed with an additional bedroom, a three-piece bath, laundry, and a spacious games or family room that includes an efficient firebox-style insert for cozy winter nights. Parking is ample, with space for six vehicles and an oversized single-car garage/shop that provides flexible space for a home office, studio, or small business operations. This is a rare blend of residential comfort with instant live/work potential in a walkable, revitalizing neighborhood. From an investment perspective, the property’s CS zoning and subdivision potential into three lots offer multiple exit strategies: you can subdivide for sale as individual parcels, assemble for a larger development, or maintain a single-site live/work configuration with ongoing cash flow. Old Town Airdrie benefits from high visibility and easy access to major corridors, services, and amenities, making it attractive for both tenants and buyers seeking convenience and character. The neighborhood offers a mix of local shops, dining, parks, schools, and transit options that support sustained demand for versatile spaces. Note - some of the pictures are virtually staged.

Property details

Bedrooms3
Bathrooms2.0
StyleBungalow
HeatingForced Air,Natural Gas,Wood
CoolingCentral Air
FlooringCarpet,Hardwood,Laminate,Linoleum
LevelsOne
BasementFull
Basement developmentFinished
Interior featuresBookcases
AppliancesCentral Air Conditioner,Dishwasher,Gas Stove,Humidifier,Range Hood,Refrigerator,Window Coverings
Inclusionsnone
LaundryNone
Lot size8998.00 sqft
Frontage74.81 ft
Lot featuresBack Lane,Landscaped,Level,Private,Rectangular Lot
Exterior featuresFire Pit
FencingFenced
PatioDeck
Year built1970
Construction materialsBrick,Vinyl Siding,Wood Frame
RoofAsphalt Shingle
FoundationPoured Concrete
Parking featuresCarport,Single Garage Detached
Garage spaces1
Parking total5
Annual taxes$3,686
Tax year2025
Possession90 Days / Neg
ZoningR1-V
TitleFee Simple
RestrictionsNone Known
NeighbourhoodOld Town
Community featuresPark,Playground,Schools Nearby,Shopping Nearby,Street Lights
List AORCalgary

Location

Sold comparables in Old Town

6 recent sales in Old Town

VOW members see sold prices, sold dates, and full comparable details. Free registration; takes 30 seconds.

Sign up to see sold data

About Old Town

AI-generated summary

Old Town is one of Calgary's most storied communities, blending historic character with a tight-knit residential feel close to the city core.

Average list price of $624,900 reflects inner-city demand
Relatively low inventory with only 2 active listings
Homes are averaging 34 days on market, suggesting a measured pace
Housing
The area features a mix of older single-family homes and infill developments, reflecting its established heritage roots.
Transit
Old Town benefits from reasonable access to Calgary Transit bus routes with proximity to inner-city cycling infrastructure.
Amenities
Residents enjoy nearby access to local shops, restaurants, and the amenities of adjacent established neighbourhoods.
Who lives here
A mix of long-time Calgary residents and urban-minded buyers drawn to character homes and inner-city living.
Full Old Town community profile →

This neighbourhood summary was generated by AI for general orientation only. Verify details with the City of Calgary and your REALTOR® before making decisions.

Browse Calgary homes by feature

Heritage & Character Homes New Construction Homes Character Homes Homes Near C-Train Legal Suite Homes Backing Onto Park EV Charging Homes Hot Tub Homes River Homes Walkout Basements Luxury Homes Triple Car Garage Just Listed

Similar listings in Old Town

Listed by: CIR Realty — Wesley Morrow, Kevin Niefer.