Data was last updated 2024-11-12 at 11:45:05 GMT
$3,200,000

531, 533, 535 24 Avenue NW   Calgary, Alberta

MLS®: A2142851
URL:    
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 / Building 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 along 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 suite + an illegal upper-level suite + 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.

Listing Information

Prop. Type:
Multi Family (Commercial)
Status:
Active
City:
Calgary
Neighbourhood:
Mount Pleasant
Area:
Calgary
Province:
Alberta
MLS® Number:
A2142851
Listing Price:
$3,200,000

General Information

Year Built:
1947

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Location


Bryan Logel
RE/MAX Real Estate (central)
206, 2411 4th St NW, Calgary, Alberta
Office: 403-216-1600
Mobile: 403-803-5740
Fax: 403-284-4923
The data included in this display is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board.