About 531 24th Avenue Nw
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 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.
Features of 531 24th Avenue Nw
MLS® # | A2143394 |
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Price | $3,200,000 |
Bathrooms | 0.00 |
Square Footage | 2,565 |
Acres | 0.41 |
Year Built | 1947 |
Type | Multi-Family |
Sub-Type | Triplex |
Style | 2 Storey, Up/Down |
Status | Active |
Community Information
Address | 531 24th Avenue Nw |
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Subdivision | Mount Pleasant |
City | Calgary |
County | Calgary |
Province | Alberta |
Postal Code | T2M1X4 |
Amenities
Parking Spaces | 2 |
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Parking | Alley Access, Double Garage Detached, Garage Faces Rear |
# of Garages | 2 |
Is Waterfront | No |
Has Pool | No |
Interior
Interior Features | See Remarks |
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Appliances | Dishwasher, Electric Stove, Window Coverings, Gas Stove, Washer/Dryer, Washer/Dryer Stacked |
Heating | Forced Air, Natural Gas |
Cooling | Central Air |
Fireplace | Yes |
# of Fireplaces | 1 |
Fireplaces | Wood Burning |
# of Stories | 2 |
Has Basement | Yes |
Basement | Exterior Entry, Finished, Full, Suite |
Exterior
Exterior Features | Private Yard, Playground, Private Entrance |
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Lot Description | City Lot, Landscaped, Back Yard, Fruit Trees/Shrub(s), Near Golf Course, Level, Near Shopping Center, Rectangular Lot, Street Lighting, Near Public Transit, Treed |
Roof | Asphalt Shingle |
Construction | Wood Frame, Vinyl Siding |
Foundation | Poured Concrete |
Additional Information
Date Listed | June 21st, 2024 |
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Days on Market | 113 |
Zoning | M-C2 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Office | Century 21 Bravo Realty |
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