AB > Calgary > Mount Pleasant
Calgary, AB T2M 1X4,531, 533, 535 24 AVE Northwest
Calgary, AB T2M 1X4,531, 533, 535 24 AVE Northwest
Calgary, AB T2M 1X4,531, 533, 535 24 AVE Northwest
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$3,200,000
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0.41 Acres Lot
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531, 533, 535 24 AVE Northwest Calgary, AB T2M 1X4

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Joe Badin

Joe Badin

+1(403) 819-2665

UPDATED:

10/17/2024 10:10 PM

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Mount Pleasant

MLS® Listing ID A2142851

Year Built 1947

Lot Size 0.413 Acres

Acres 0.41

Lot Dimensions 100 X 180 SQFT

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 along 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 suite + an illegal upper-level suite + 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

Interior

Inclusions 535 / 533 - 24th Avenue NW - Dishwasher Built-In (2x), Washer & Dryer (1x), Washer/Dryer Stacked (1x), Hood Fan (2x), Refrigerator (2x), Stove-Electric (2x) Storage Shed, Window Coverings 531 24th Avenue NW - Dishwasher Built-In(2x), Washer & Dryer (1x), Electric Stove (2x), Gas Stove (1x), Washer/Dryer Stacked (1x), Window Coverings

Exterior

Lot Frontage 100.0

Building

Lot Description City Lot

Dwelling Type Other

Others

Restrictions None Known

Listed by Century 21 Bravo Realty

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Joe Badin

+1(403) 819-2665

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531, 533, 535 24 AVE Northwest