535, 533 24th AVE Northwest Active Save Request In-Person Tour Request Virtual Tour
Calgary,AB T2M 1X4
Key Details
Property Type Multi-Family
Sub Type Full Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,100 sqft
Price per Sqft $2,909
Subdivision Mount Pleasant
MLS Listing ID A2143418
Style Bungalow,Up/Down
Year Built 1950
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
State AB
County Calgary
Area Cal Zone Cc
Zoning M-C2
Rooms
Basement Separate/Exterior Entry,Finished,Full,Suite,Walk-Up To Grade
Interior
Interior Features See Remarks
Heating Forced Air,Natural Gas
Flooring Carpet,Ceramic Tile,Laminate
Inclusions 2nd built in dishwasher, 2 hood fans, 2nd refrigerator, 2nd electric stove
Appliance Dishwasher,Refrigerator,Stove(s),Washer/Dryer,Washer/Dryer Stacked,Window Coverings
Laundry Multiple Locations
Exterior
Exterior Feature Private Yard
Garage Double Garage Detached,Driveway,Garage Faces Rear,Oversized
Garage Spaces 2.0
Fence Fenced
Community Features Golf,Park,Playground,Pool,Schools Nearby,Shopping Nearby,Sidewalks,Street Lights,Walking/Bike Paths
Roof Type Asphalt Shingle
Lot Frontage 100.0
Total Parking Spaces 8
Building
Lot Description 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
Dwelling Type Duplex
Story 1
Foundation Poured Concrete
Architectural Style Bungalow,Up/Down
Level or Stories One
Structure Type Stucco,Wood Frame,Wood Siding
Others
Restrictions None Known