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$ 3,000,000
Est. payment | /mo
3,673 SqFt
$ 3,000,000
Est. payment | /mo
3,673 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 3,673 sqft
Price per Sqft $816
Subdivision Mount Pleasant
MLS® Listing ID A2188877
Originating Board Calgary Real Estate Board
Year Built 1947
Lot Size 0.413 Acres
Acres 18000.0
Property Sub-Type Freehold
Property Description
Attention DEVELOPERS & INVESTORS this is a prime, inner city, Mount Pleasant land assemblage / redevelopment site with MC-2 zoning. 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. Being sold for land assemblage value. See supplements for 2023 commercial land assemblage/ property appraisal for $3.17 million. Fantastic inner-city location, close to Downtown Calgary. 531 must be purchased together with 535 & 533 24th Avenue NW. This is an incredible opportunity to either develop the proposed multi-family development plans or bring your own vision for a dynamic multi-family project to life catering to Calgary's growing demand for housing or for a savvy INVESTOR to buy and hold these inner-city Calgary properties with solid revenue generation for future redevelopment. See supplements for the rental income that these side-by-side properties currently generate. Note: Building area is the combined RMS measurements of the existing structures on the properties. 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. 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 all in great condition. Please also see supplements for proposed development plans 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. There is 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. Please do not disturb tenants/access property. Showings of properties subject to an accepted offer to purchase. Building area is the combined RMS measurements of existing structures. (id:24570)
Location
State AB
Exterior
Parking Features No
View Y/N No
Private Pool No
Others
Ownership Freehold
Listed by Century 21 Bravo Realty
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