531 24th Avenue Nw, Calgary, Alberta T2M 1X4 (27073799)


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531 24th Avenue Nw Calgary, Alberta T2M 1X4

2565 sqft
Fireplace Central Air Conditioning Forced Air Fruit Trees, Landscaped

$3,200,000

Attention developers & Investors this is a prime, inner city, Mount Pleasant land assemblage / redevelopment site with MC-2 zoning. Don't miss this RARE OPPORTUNITY which includes lots 23, 24, 25 & 26 combined, offering 100' frontage x 180' lot depth, approximately 18.000 sqft lot size or 0.41 acres. Fantastic inner-city location, close to Downtown Calgary. Properties 531 (Linc# 0019928655) along with 535 & 533 (Linc# 0019928647) 24th Avenue NW must be purchased together. Proposed development plans are for an apartment building comprising of 49 purpose built rental units 43 - 1 bed units + 3 - 2 bed + 3 bachelor units w/1 level of underground parking - 41 stalls. Land survey, geotechnical report, and ESA report available to view in the supplements, along with a recent commercial property appraisal $3.17 million (2023) of properties in their current state. Also, potential with the City of Calgary approval to rezone to build even more i.e. 75+ units with 2 levels of parking and potential commercial retail units (CRU's) at grade. MC2 is one of the highest medium-density zoning with tremendous flexibility to build commercial, multi-family, 4-6 storey apartment buildings are just some of the options with City of Calgary approval. Prime location within walking distance to Confederation Park, Mount Pleasant community amenities, schools, transit, shops & restaurants on 4th Street & 16th Ave NW. Quick commute to SAIT + Downtown Calgary, University of Calgary, Alberta Children’s Hospital & Foothills Hospital. This is an incredible opportunity to either develop the proposed multi-family development plans or develop your own vision for a dynamic multi-family project catering to Calgary’s growing demand for housing or hold onto these inner-city Calgary properties with solid revenue generation for future redevelopment. Existing side by side properties currently generate $132,600 in gross annual income offering rental income during your planning phase. Note: Total SQFT / Build ing Area is the combined RMS measurements of the existing properties. 535 & 533 24th Avenue NW (built 1950) is a renovated bungalow 1108 sqft main floor legal suite with a 1031 sqft legal lower-level suite. 531 24th Avenue NW (built 1947) is a renovated 2-storey offering 2564 sqft above grade with a legal main floor + illegal upper-level suite(s) + 975 sqft illegal lower-level suite all in great condition. Develop the proposed plans, bring your own vision / plans to life or buy and hold - the possibilities are endless. Please do not disturb tenants/access property. Showings of properties subject to an accepted offer to purchase. (id:36938)

Property Details

MLS® Number A2143394
Property Type Multi-family
Community Name Mount Pleasant
AmenitiesNearBy Golf Course, Park, Playground, Recreation Nearby, Schools, Shopping
CommunityFeatures Golf Course Development
Features Treed, See Remarks, Level
ParkingSpaceTotal 2
Plan 29340
TotalBuildings 2

Building

Appliances Gas Stove(s), Dishwasher, Stove, Window Coverings, Washer/dryer Stack-up
BasementDevelopment Finished
BasementFeatures Separate Entrance, Suite
BasementType Full (finished)
ConstructedDate 1947
ConstructionMaterial Wood Frame
ConstructionStyleAttachment Attached
CoolingType Central Air Conditioning
ExteriorFinish Vinyl Siding
FireplacePresent Yes
FireplaceTotal 1
FlooringType Hardwood
FoundationType Poured Concrete
HeatingFuel Natural Gas
HeatingType Forced Air
StoriesTotal 2
SizeInterior 2565 Sqft
TotalFinishedArea 2565 Sqft
Type Multi-family

Parking

Detached Garage 2

Land

Acreage No
FenceType Fence
LandAmenities Golf Course, Park, Playground, Recreation Nearby, Schools, Shopping
LandscapeFeatures Fruit Trees, Landscaped
SizeDepth 54.86 M
SizeFrontage 30.48 M
SizeIrregular 18000.00
SizeTotal 18000 Sqft|10,890 - 21,799 Sqft (1/4 - 1/2 Ac)
SizeTotalText 18000 Sqft|10,890 - 21,799 Sqft (1/4 - 1/2 Ac)
ZoningDescription M-c2

https://www.realtor.ca/real-estate/27073799/531-24th-avenue-nw-calgary-mount-pleasant

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