535, 533 24th Avenue Nw, Calgary, Alberta

$3,200,000

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1,100

Square feet

0.41

Acres

About 535, 533 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 535, 533 24th Avenue Nw

MLS® # A2143418
Price $3,200,000
Bathrooms 0.00
Square Footage 1,100
Acres 0.41
Year Built 1950
Type Multi-Family
Sub-Type Duplex
Style Bungalow, Up/Down
Status Active

Community Information

Address 535, 533 24th Avenue Nw
Subdivision Mount Pleasant
City Calgary
County Calgary
Province Alberta
Postal Code T2M 1X4

Amenities

Parking Spaces 8
Parking Double Garage Detached, Driveway, Garage Faces Rear, Oversized
# of Garages 2
Is Waterfront No
Has Pool No

Interior

Interior Features See Remarks
Appliances Dishwasher, Refrigerator, Stove(s), Washer/Dryer, Washer/Dryer Stacked, Window Coverings
Heating Forced Air, Natural Gas
Fireplace No
# of Stories 1
Has Basement Yes
Basement Exterior Entry, Finished, Full, Suite, Walk-Up To Grade

Exterior

Exterior Features Private Yard
Lot Description Back Yard, City Lot, Fruit Trees/Shrub(s), Near Shopping Center, Landscaped, Level, Many Trees, Street Lighting, Near Golf Course, Near Public Transit, Rectangular Lot
Roof Asphalt Shingle
Construction Stucco, Wood Frame, Wood Siding
Foundation Poured Concrete

Additional Information

Date Listed June 21st, 2024
Days on Market 166
Zoning M-C2
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeCentury 21 Bravo Realty

Listing Map

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