Welcome to 175 Magnolia Way SE, a versatile and beautifully designed home in the heart of Mahogany?one of Calgary?s most sought-after lake communities. Upstairs, you?ll find a functional layout perfect for families, featuring 3 spacious bedrooms and a central BONUS ROOM?ideal for movie nights, a play area, or a quiet retreat. The primary bedroom is thoughtfully positioned at the back of the home for added privacy and includes a 4-piece ensuite and a walk-through closet that conveniently connects to the laundry room with a stacked washer and dryer. The main floor is bright, open, and designed for everyday living. Enjoy a well-appointed kitchen with a LARGE ISLAND, ample cabinetry, and expansive windows that fill the space with natural light. The adjoining dining and living areas create a seamless flow for entertaining or relaxing at home. You?ll also find a DEDICATED OFFICE SPACE, perfect for working from home, along with an ADDITIONAL FLEX AREA that could be used as a study nook or kids? workspace. A rear entrance leads to the fully FENCED BACKYARD, offering both convenience and functionality. Downstairs, the fully legal 2-BEDROOM, 2-BATHROOM LEGAL BASEMENT SUITE is a standout feature?complete with its own PRIVATE SIDE ENTRANCE and separate laundry. Whether you?re looking for rental income, multi-generational living, or added flexibility, this space delivers exceptional value. Living in Mahogany means more than just owning a home?it?s a lifestyle. Enjoy year-round access to the private lake, sandy beaches, pathways, parks, and countless amenities. With great schools, local shops, restaurants, and a strong sense of community, it?s easy to see why so many families are proud to call Mahogany home. This is a must-see property that combines smart design, income potential, and an unbeatable location. Book your showing today!