505 & 506, 401 4 Street, Rural Cypress County
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 RIDICULOUSLY LOW PRICE! (id:1945)
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Property details for 505 & 506, 401 4 Street, Rural Cypress County
- Type
- Apartment
- Style
- Multi-level
- Bedrooms
- 2
- Bathrooms
- 2
- Living Area
- 1,112 square feet
- Stories
- 2
- Parking
- Other
- Heating
- Forced air, Natural gas
- Cooling
- Central air conditioning
- Exterior
- Stone
- Ownership
- Condo/Strata
- Annual Taxes
- $1,730 (2025)
- Condo Fee
- $1,108 / Monthly
Nearby Listings Stat
Estimated price and comparable properties near 505 & 506, 401 4 Street
Active Listings
1
Min Price
$173,900
Max Price
$173,900
Avg Price
$173,900
Days on Market
289
days
Sold Listings
0
Min Sold Price
$N/A
Max Sold Price
$N/A
Avg Sold Price
$N/A
Days until Sold
N/A
days
Price History
Listed
December 2, 2025
by RIVER STREET REAL ESTATE
Current Price
$173,900
-2.8% from last change
Type
Apartment
For Sale
Price Changes
2
| Date | Price | Change |
|---|---|---|
| Current | $173,900 | $5,100 (-2.8%) |
| Aug 31, 2026 | $179,000 | $10,000 (-5.3%) |
| Apr 10, 2026 | $189,000 | Listed |
