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#505 & 506 401 4 Street - Image 1
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For SaleMLS® #A2273583Pillar 9

$179,000

144 days on hômm

#505 & 506 401 4 Street

Elkwater, Rural Cypress County, Alberta T0J 1C0

1+1
Beds
2
Baths
1,112
Sqft
2006
Built
CondoMulti Level ApartmentLowrise Apartment

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Description

MOTIVATED SELLERS!!! Nestled quietly in the beautiful Cypress Hills, Elkwater is a year-round recreational garden of delights. Only a 40-minute drive from Medicine Hat, this flourishing resort oasis offers an abundance of vacation activities: boating, water skiing, fishing, biking, golf and hiking in the summer; skating, downhill and x-country skiing in the winter. This impressive 1,122 sq.ft. 2 bedroom / 2 bath condo is located in Elkwater Lake Lodge, which offers a delightful restaurant, pool, hot tub, fire pit and room service. The main unit boasts the popular open floor plan, which is awash in natural light flooding in from the numerous windows. A fully stocked kitchen offers an abundance of cupboards, an upgraded double sink and high-end faucet, and the 2-seat island and countertops have been re-done in granite. A separate dining area abuts a spacious living room, which comfortably sits 6 people and features a river stone gas fireplace. A generous wraparound deck (with gas hookup) is accessed via the living room and affords a quiet, relaxing retreat to "chill out" and take in the wooded views. A large bedroom and a 4-piece bathroom with a soaker tub completes the main unit. The adjoining studio suite, which also has a separate entrance, offers a spacious bedroom (kingsize bed) with access to a private deck, along with a coffee bar, mini-fridge, microwave and sink, and a 3-piece bath. This ideally located condo is only a short walk to the downtown marina, sandy beach, lake, restaurant and popular cafe. Priced ridiculously below assessed value, this is a solid investment opportunity for a single family or even as a group venture. Furthermore, this Phase 1 condo is part of a revenue generating rental pool. Owner is allowed 120 days usage throughout the year with the remaining time available in the rental pool. THE OWNER RECOUPS 60% OF ANY RENTAL REVENUE, WHICH BASICALLY PAYS THE MONTHLY CONDO FEES AND ELECTRIC BILL. It comes with all the appliances and is fully furnished. This "must see" property is an all-season getaway at a very affordable price!

Included with Sale

DishwasherElectric StoveMicrowaveRefrigeratorWindow Coverings

Nearby Amenities

ParkPlayground

Parking

2 Parking

Heating

Forced Air,Natural Gas

Cooling

Central Air

Financial Information

Property Taxes

$1,730/year (2025)

HOA/Condo Fees

$1,108/month

Lot Information

LandscapedStandard Shaped LotWooded

Rooms (7)

Main

Kitchen
1,033 sq ft
39.4 × 26.2 ft (1,033 sq ft)
Living Room
2,659 sq ft
62.3 × 42.7 ft (2,659 sq ft)
Bedroom
1,539 sq ft
42.7 × 36.1 ft (1,539 sq ft)
4pc Bathroom

Suite

Bedroom
2,239 sq ft
52.5 × 42.7 ft (2,239 sq ft)
3pc Bathroom
Zoning: PP

Location

MLS® #: A2273583

Listing provided by KELLY RISLING

Brokerage: RIVER STREET REAL ESTATE

Photos: 28 images

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Website provided by Kelly Grant

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS® System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

Mortgage values are calculated by hômm and are provided for estimate purposes only.

The hômm Estimate is calculated by instantestimate.house and is provided as a general estimate only.

Trademarks are owned or controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®, REALTORS®) and/or the quality of services they provide (MLS®, Multiple Listing Service®).

Listing information last updated on April 10, 2026 at 12:05 pm MDT