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.
Dishwasher, Electric Stove, Gas Stove, Washer/Dryer, Washer/Dryer Stacked, Window Coverings
2nd dishwasher. & 2nd electric stove
None Known
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
See Remarks
Exterior Features:
Playground, Private Entrance, Private Yard
Lot Features:
Back Yard, City Lot, Near Shopping Center, Landscaped, Level, Street Lighting, Near Public Transit, Rectangular Lot, Treed, Fruit Trees/Shrub(s), Near Golf Course
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Jun 21, 2024
Aerial view - close to Downtown Calgary
Aerial view of properties within close proximity to Downtown Calgary
Aerial view
Aerial view of properties within close proximity to Downtown Calgary
Aerial view of properties
Front view 531 24th Avenue NW
Aerial view of front of properties
Front view 531 24th Avenue NW
Front view 531 24th Avenue NW
Aerial view of 531 24th Avenue NW
Front view 531 24th Avenue NW
Proposed 49 unit redevelopment
Proposed 49 unit redevelopment
Proposed 49 unit redevelopment
Proposed 49 unit redevelopment
Proposed 49 unit redevelopment
Proposed 49 unit redevelopment
Proposed 49 unit redevelopment
Proposed 49 unit redevelopment
Aerial view of properties within close proximity to Downtown Calgary
Aerial view of properties
Aerial view of properties within close proximity to Downtown Calgary
Data was last updated October 30, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
24
Avg list price:
$1,348,888
Min list price:
$875,000
Max list price:
$4,280,000
Avg days on market:
46
Min days on market:
1
Max days on market:
178
Avg price per sq.ft.:
$579.48
These statistics are generated based on the current listing's property type
and located in
Calgary. Average values are
derived using median calculations.
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.