$ 3,200,000
531 24th Avenue NW Calgary, AB T2M1X4
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$ 3,200,000
Est. payment /mo
Active
531 24th Avenue NW Calgary, AB T2M1X4
2,565 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 2,565 sqft
Price per Sqft $1,247
Subdivision Mount Pleasant
MLS® Listing ID A2143394
Originating Board Calgary Real Estate Board
Year Built 1947
Lot Size 0.413 Acres
Acres 18000.0
Property Description
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:24570)
Location
Province AB
Interior
Heating Forced air,
Cooling Central air conditioning
Flooring Hardwood
Fireplaces Number 1
Exterior
Garage Yes
Garage Spaces 2.0
Garage Description 2
Fence Fence
Community Features Golf Course Development
Waterfront No
View Y/N No
Total Parking Spaces 2
Private Pool No
Building
Lot Description Fruit trees, Landscaped
Story 2
Others
Ownership Freehold
Listed by Century 21 Bravo Realty
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