Investors and small-scale developers, this is a strategic holding and redevelopment opportunity in one of Central Alberta’s most stable rental markets. This 0.546 acre parcel is zoned R3 (Multi-Residential District), allowing for higher-density residential development such as a 4-plex or larger multi-unit project (subject to Town approval). Lots of this size, with this zoning, and this proximity to amenities are increasingly difficult to find within town limits. The property is ideally positioned less than 1 km walking distance to both Olds College and Uptown Olds. Olds College is a major local employer and regional draw, supporting consistent rental demand from students, faculty, and service-sector employees. Uptown Olds provides grocery, banking, restaurants, and professional services — making this a true walkable location for future tenants. The existing 1950 home includes 1 bedroom and 1 bathroom on the main floor, plus an additional bedroom and bathroom in the basement, along with garage space equivalent to a 4-car garage. This allows a purchaser to obtain conventional financing and generate immediate rental income while planning a phased redevelopment strategy. Olds continues to demonstrate steady population growth, full municipal servicing, and historically low vacancy rates compared to many rural Alberta communities. For investors, this translates into dependable rental absorption and long-term development viability. Hold for cash flow. Develop for scale. Or secure the land today while options remain open.