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531 24th Avenue Nw Calgary, Alberta T2M 1X4

2565 sqft
Fireplace Central Air Conditioning Forced Air Fruit Trees, Landscaped

$3,200,000

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 of fers 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. (id:37074)

Property Details

MLS® Number A2143394
Property Type Multi-family
Community Name Mount Pleasant
Amenities Near By Golf Course, Park, Playground, Recreation Nearby
Community Features Golf Course Development
Features Treed, See Remarks, Level
Parking Space Total 2
Plan 29340
Total Buildings 2

Building

Appliances Gas Stove(s), Dishwasher, Stove, Window Coverings, Washer/dryer Stack-up
Basement Development Finished
Basement Features Separate Entrance, Suite
Basement Type Full (finished)
Constructed Date 1947
Construction Material Wood Frame
Construction Style Attachment Attached
Cooling Type Central Air Conditioning
Exterior Finish Vinyl Siding
Fireplace Present Yes
Fireplace Total 1
Flooring Type Hardwood
Foundation Type Poured Concrete
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Size Interior 2565 Sqft
Total Finished Area 2565 Sqft
Type Multi-family

Parking

Detached Garage 2

Land

Acreage No
Fence Type Fence
Land Amenities Golf Course, Park, Playground, Recreation Nearby
Landscape Features Fruit Trees, Landscaped
Size Depth 54.86 M
Size Frontage 30.48 M
Size Irregular 18000.00
Size Total 18000 Sqft|10,890 - 21,799 Sqft (1/4 - 1/2 Ac)
Size Total Text 18000 Sqft|10,890 - 21,799 Sqft (1/4 - 1/2 Ac)
Zoning Description M-c2

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