531 24th Avenue Nw, Calgary, Alberta

$3,200,000

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2,565

Square feet

0.41

Acres

About 531 24th Avenue Nw

Attention Builders & Investors this is a prime, inner city, Mount Pleasant 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 length, 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. Excellent multi-family residential redevelopment opportunity. There is a proposed development plan for an apartment building comprising of 49 purpose built rental units - 43 - 1 bedroom, 3 - 2 bedroom + 3 - bachelor units with 1 level of underground parking - 41 stalls. See 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 for new owner 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 zonings 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 a multi-family project or hold onto these inner-city Calgary properties with solid revenue generation for future redevelopment. Existing properties are revenue-generating side-by-side properties with South-facing backyards with garage/alley access. Note: Total SQFT / Building Area is the combined RMS measurements of the existing homes. 531 24th Avenue NW (built 1947) is a renovated 2-storey offering 2565 sqft above grade with 1 legal & 2 illegal suites, all in great condition. The main floor legal suite is 1470 sqft with hardwood floors, 2 bedrooms, a 5-piece bathroom, and a wood-burning fireplace. The upper-level illegal suite is 1100 sq ft with a living, dining room, 2 bedrooms, and a den with a private entrance. The lower-level illegal suite is 975 sqft, also with a separate entrance. 535 & 533 24th (built 1950) Avenue NW is a renovated bungalow with a legal lower-level suite. Main floor offers 1100 + sqft 2 bedrooms, dining room, living room, kitchen + a 4-piece bathroom. Lower-level legal suite with a separate entrance offers 1000+ sqft of living area, 1 bedroom, dining room, kitchen, living room + a 4-piece bathroom. Develop the proposed plan, bring your own vision 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.

Features of 531 24th Avenue Nw

MLS® # A2143394
Price $3,200,000
Bathrooms 0.00
Square Footage 2,565
Acres 0.41
Year Built 1947
Type Multi-Family
Sub-Type Triplex
Style 2 Storey, Up/Down
Status Active

Community Information

Address 531 24th Avenue Nw
Subdivision Mount Pleasant
City Calgary
County Calgary
Province Alberta
Postal Code T2M1X4

Amenities

Parking Spaces 2
Parking Alley Access, Double Garage Detached, Garage Faces Rear
# of Garages 2
Is Waterfront No
Has Pool No

Interior

Interior Features See Remarks
Appliances Dishwasher, Washer/Dryer, Window Coverings, Electric Stove, Gas Stove, Washer/Dryer Stacked
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace Yes
# of Fireplaces 1
Fireplaces Wood Burning
# of Stories 2
Has Basement Yes
Basement Exterior Entry, Finished, Full, Suite

Exterior

Exterior Features Private Entrance, Private Yard, Playground
Lot Description Back Yard, City Lot, Fruit Trees/Shrub(s), Landscaped, Level, Rectangular Lot, Treed, Near Golf Course, Near Shopping Center, Street Lighting, Near Public Transit
Roof Asphalt Shingle
Construction Wood Frame, Vinyl Siding
Foundation Poured Concrete

Additional Information

Date Listed June 21st, 2024
Days on Market 108
Zoning M-C2
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeCentury 21 Bravo Realty

Listing Map

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