535, 533 24th Avenue NW Calgary, AB T2M 1X4
Listing Courtesy of: PILLAR 9 - IDX / Century 21 Bravo Realty / Kathryn Bogala

  535, 533 24th Avenue NW Calgary, AB T2M 1X4

Active (149 Days)
$3,200,000

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.

MLS®:
A2143418
Lot Size
0.41 acres
Type
Multifamily
Year Built
1950
Style
Bungalow, Up/Down

Listed By

Kathryn Bogala, Century 21 Bravo Realty
Source
PILLAR 9 - IDX
Last checked Nov 17 2024 at 6:14 PM EST
Bathroom Details
Interior Features
  • See Remarks
  • Appliances : Dishwasher
  • Appliances : Refrigerator
  • Appliances : Stove(s)
  • Appliances : Washer/Dryer
  • Appliances : Washer/Dryer Stacked
  • Appliances : Window Coverings
  • Laundry/Utility Room : Multiple Locations
Subdivision
  • Mount Pleasant
Lot Information
  • 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
Property Features
  • Fireplace: Total Fireplace(s) : 0
  • Foundation: Poured Concrete
Heating and Cooling
  • Natural Gas
Basement Information
  • Separate/Exterior Entry
  • Finished
  • Full
  • Suite
  • Walk-Up to Grade
Flooring
  • Carpet
  • Ceramic Tile
  • Laminate
Exterior Features
  • Roof: Asphalt Shingle
Garage
  • Double Garage Detached
Parking
  • Parking Space(s) : 8
  • Oversized
Stories
  • 1
Living Area
  • 1,100 sqft
Location
   
Calculate drive times to this property
 
Powered by INRIX® Drive Time

Powered by Walk Score®
Disclaimer: Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS® System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS® System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.