531 24th AVE Northwest Active Save Request In-Person Tour Request Virtual Tour
Calgary,AB T2M1X4
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,565 sqft
Price per Sqft $1,247
Subdivision Mount Pleasant
MLS Listing ID A2143394
Style 2 Storey,Up/Down
Year Built 1947
Lot Size 0.413 Acres
Acres 0.41
Lot Dimensions 100 X 180
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 / 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.
Location
Province AB
County Calgary
Area Cal Zone Cc
Zoning M-C2
Rooms
Basement Separate/Exterior Entry,Finished,Full,Suite
Interior
Interior Features See Remarks
Heating Forced Air,Natural Gas
Cooling Central Air
Flooring Hardwood
Fireplaces Number 1
Fireplaces Type Wood Burning
Inclusions 2nd dishwasher. & 2nd electric stove
Appliance Dishwasher,Electric Stove,Gas Stove,Washer/Dryer,Washer/Dryer Stacked,Window Coverings
Laundry Multiple Locations
Exterior
Exterior Feature Playground,Private Entrance,Private Yard
Garage Alley Access,Double Garage Detached,Garage Faces Rear
Garage Spaces 2.0
Fence Fenced
Community Features Golf,Park,Playground,Pool,Schools Nearby,Shopping Nearby,Sidewalks,Street Lights
Roof Type Asphalt Shingle
Lot Frontage 100.0
Total Parking Spaces 2
Building
Lot Description Back Yard,City Lot,Fruit Trees/Shrub(s),Near Shopping Center,Landscaped,Level,Street Lighting,Near Golf Course,Near Public Transit,Rectangular Lot,Treed
Dwelling Type Triplex
Story 2
Foundation Poured Concrete
Architectural Style 2 Storey,Up/Down
Level or Stories Two
Structure Type Vinyl Siding,Wood Frame
Others
Restrictions None Known