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Phone: 403.397.3706

Email: diane@mypadcalgary.com

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What are the most desirable neighborhoods for million dollar homes in Calgary?

Calgary has several desirable neighborhoods for million dollar homes, each offering its own unique amenities and attractions. Here are some of the most popular neighborhoods for luxury homes in Calgary:

  1. Mount Royal: Located near downtown Calgary, Mount Royal is known for its large estate homes and tree-lined streets.

  2. Elbow Park: Situated along the Elbow River, Elbow Park offers a mix of heritage homes and modern luxury properties.

  3. Britannia: This neighborhood is located in southwest Calgary and is known for its stunning river views and upscale homes.

  4. Springbank Hill: Located on the west side of the city, Springbank Hill offers spacious properties with panoramic mountain views.

  5. Bel-Aire: Bel-Aire is a prestigious neighborhood in southwest Calgary with large lots and luxurious homes.

  6. West Springs: Located in southwest part of the city, just west of downtown, and is known for its modern luxury homes and easy access to amenities.

  7. Altadore: Situated near River Park and Sandy Beach, Altadore offers a mix of modern and heritage homes with easy access to downtown Calgary.

  8. Aspen Woods: Located in the west end of the city, Aspen Woods offers a mix of luxury homes and high-end condos with easy access to shopping and entertainment.

  9. Pump Hill: This neighborhood is located in the southwest part of the city and is known for its large estate homes and proximity to Glenmore Reservoir.

  10. Eagle Ridge: Located in southwest Calgary, Eagle Ridge offers spacious properties with easy access to the city's pathway system and natural parks.

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125 Rainbow Avenue
NONE Banff T1L 1A1

$1,750,000
Residential beds: 4 baths: 2.0 1,009 sq. ft. built: 1955

Main Photo: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 1: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 2: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 3: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 4: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 5: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 6: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 7: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
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Photo 9: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
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Photo 15: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
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Photo 44: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 45: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Photo 46: 125 Rainbow Avenue: Banff Detached for sale : MLS®# A2249719
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2249719
Bedrooms:
4
Bathrooms:
2
Year Built:
1955
Prime redevelopment opportunity in the heart of Banff, nestled on a spacious 9,834 square foot lot, with breathtaking views towards the surrounding mountain views, this property offers a rare chance to secure a revenue-generating holding property with exceptional development potential. The land is currently improved with a 4 bedroom home and a detached garage, producing steady rental income. The permitted zoning allows for up to an 8-plex development, and discretionary use provides the possibility for additional development including an apartment complex, subject to town approval. With convenient alley access, a valuable advantage for residents, visitors, and construction access, this lot is well-positioned for a thoughtful multi-family build in one of Canada’s most sought-after mountain communities. Whether you’re planning your dream build, an investor looking to hold and generate income or a developer ready to bring new housing to the heart of Banff, opportunities like this are rare.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Suite:
Yes
Num Legal Suites:
0
Num Illegal Suites:
1
Home Style:
Bi-Level
Total Living Area:
1,008.93 sq. ft.
Acreage:
No
Lot Area:
9,833 sq. ft.
Lot Frontage:
79'11⅞"
Front Exposure:
South
Levels:
Bi-Level
Total Rooms Above Grade:
6
Year built:
1955 (Age: 70)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1926HH
Heating:
Forced Air, Natural Gas
Basement:
Full, Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Wood Frame, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Laminate, Tile
Cooling:
None
Fireplaces:
0
Garage:
Yes
Garage Spaces:
1
Parking:
Alley Access, Driveway, Enclosed, Secured, Single Garage Detached
Parking Places:
4
Parking Total/Covered:
4 / -
Laundry Features:
In Basement
NONE
Electric Oven, Electric Range, Electric Stove, Refrigerator, Washer/Dryer
N/A
Short Term Rentals Not Allowed
Floor
Type
Size
Other
Main Floor
Bedroom
11'3" × 8'
Main Floor
Bedroom
11'5" × 7'11"
Main Floor
Dining Room
10'3" × 8'
Main Floor
Kitchen
13'8" × 11'4"
Main Floor
Living Room
22'7" × 11'10"
Main Floor
Bedroom - Primary
11'5" × 9'11"
Main Floor
Storage
6'10" × 3'5"
Lower Level
Living Room
22'9" × 20'
Lower Level
Bedroom
10'8" × 10'8"
Lower Level
Dining Room
10'7" × 8'10"
Lower Level
Kitchen
11'3" × 9'4"
Lower Level
Laundry
17'7" × 6'9"
Lower Level
Furnace/Utility Room
8' × 4'7"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 8'
Lower Level
No
3
0' x 0'
Title to Land:
Leasehold
Community Features:
Golf, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Walking/Bike Paths
Interior Features:
Bar, Chandelier, Separate Entrance
Exterior Features:
Private Entrance, Private Yard, Storage
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Cleared, Few Trees, Front Yard, Landscaped, Level, Low Maintenance Landscape, Private, Rectangular Lot, Views
Num. of Parcels:
0
Fencing:
Partial
Region:
Improvement District No. 09 (Banff)
Zoning:
RRA (Rainbow Avenue Distr
Listed Date:
Aug 18, 2025
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Virtual Tour

Virtual Tour

Listed by MaxWell Capital Realty
Data was last updated December 11, 2025 at 04:05 AM (UTC)
Area Statistics
Listings on market:
17
Avg list price:
$1,102,500
Min list price:
$525,000
Max list price:
$4,999,000
Avg days on market:
41
Min days on market:
9
Max days on market:
307
Avg price per sq.ft.:
$940.86
These statistics are generated based on the current listing's property type and located in Banff. Average values are derived using median calculations. This data is not produced by the MLS® system.
DIANE RICHARDSON
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.