531 24th Avenue Nw, Calgary, Alberta

$3,200,000

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2,565

Square feet

0.41

Acres

About 531 24th Avenue Nw

Attention Builders & Investors - prime, inner city, Mount Pleasant redevelopment Site with MC-2 zoning. Don't miss this RARE OPPORTUNITY to purchase these revenue-generating side-by-side properties, including lots 23, 24, 25 & 26 combined, offering 100' frontage x 180' lot length, approximately 18.000 sqft lot size or 0.41 acres. Fantastic inner city location - close to Downtown Calgary. Properties 531 (Linc# 0019928655/MLS A2143394) along with 535 & 533 (Linc# 0019928647/MLS A2143418) 24th Avenue NW must be purchased together. Huge multi-family residential redevelopment opportunity. South-facing backyards. MC2 is one of the highest medium-density zonings with tremendous flexibility to build commercial, multi-family, 4-6 storey apartment buildings are just some of the options with City of Calgary approval. There is a proposed development plan, land survey, geotechnical report, and ESA report for the proposed development of 49 units and 1 level of underground parking / enough for each unit - available to view in the supplements, along with a recent property appraisal $3.17 million (2023). Potential with City of Calgary approval to rezone to build even more ie. 75+ units with 2 levels of underground parking and potential commercial retail units (CRU's) at grade. 531 24th Avenue NW (built 1947) is a renovated 2-storey offering 2565 sqft above grade including 1 legal & 2 illegal suites, all in great condition. The main floor legal suite is 1470 sqft with hardwood floors, 2 bedrooms, a 5-piece bathroom , and a wood-burning fireplace. The upper level illegal suite is 1100 sq ft with a living, dining room, 2 bedrooms, and a den with a private entrance. The illegal lower level suite is 975 sqft, also with a separate entrance. 535 & 533 24th (built 1950) Avenue NW is a renovated bungalow with a legal lower-level suite. Main floor offers 1100 + sqft 2 bedrooms, dining room, living room, kitchen + a 4 piece bathroom. Lower level legal suite with a separate entrance offers 1000+ sqft of living area, 1 bedroom, dining room, kitchen, living room + a 4 piece bathroom. Please do not disturb tenants/access property. Showings of properties subject to an accepted offer to purchase. Prime location within walking distance to Confederation Park, Mount Pleasant community amenities, schools, transit + new green line, shops & restaurants on 4th Street & 16th Ave NW. Quick commute to SAIT + Downtown Calgary. This is an incredible opportunity to develop a multi-family project or hold onto these inner-city Calgary properties with solid revenue generation, buy and hold or redevelop - the possibilities are endless.

Features of 531 24th Avenue Nw

MLS® # A2143394
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
Subdivision Mount Pleasant
City Calgary
County Calgary
Province Alberta
Postal Code T2M1X4

Amenities

Parking Spaces 2
Parking Double Garage Detached, Alley Access, Garage Faces Rear
# of Garages 2
Is Waterfront No
Has Pool No

Interior

Interior Features See Remarks
Appliances Dishwasher, Electric Stove, Gas Stove, Washer/Dryer, Washer/Dryer Stacked, Window Coverings
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 Playground, Private Entrance, Private Yard
Lot Description Back Yard, City Lot, Fruit Trees/Shrub(s), Landscaped, Level, Street Lighting, Near Golf Course, Rectangular Lot, Treed, Near Shopping Center, Near Public Transit
Roof Asphalt Shingle
Construction Vinyl Siding, Wood Frame
Foundation Poured Concrete

Additional Information

Date Listed June 21st, 2024
Days on Market 29
Zoning M-C2
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeCentury 21 Bravo Realty

Listing Map

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