531 24 Ave NW

Attention Builders & Investors - prime, inner city, Mount Pleasant redevelopment Site with MC-2 zoning. Don't miss this RARE OPPORTUNITY to purchase these revenue-generating side-by-side properties, including 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/MLS A2143394) along with 535 & 533 (Linc# 0019928655/MLS A2143418) 24th Avenue NW must be purchased together. Huge multi-family residential redevelopment opportunity. South-facing backyards. 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. There is a proposed development plan, land survey, geotechnical report, and ESA report for the proposed development of 49 units and 1 level of underground parking / enough for each unit - available to view in the supplements, along with a recent property appraisal $3.17 million (2023). Potential with City of Calgary approval to rezone to build even more ie. 75+ units with 2 levels of underground parking and potential commercial retail units (CRU's) at grade. 531 24th Avenue NW (built 1947) is a renovated 2-storey offering 2565 sqft above grade—3 suites (including 2 illegal suites), all in great condition. The main floor suite is 1470 sqft with hardwood floors, 2 bedrooms, a 5-piece bathroom , and a wood-burning fireplace. The upper level suite is 1100 sq ft with a living, dining room, 2 bedrooms, and a den with a private entrance. The lower level suite is 975 sqft, also with a separate entrance. 535 & 533 24th (built 1950) Avenue NW is a renovated bungalow with a legalized lower-level suite. Main floor offers 1100 + sqft 2 bedrooms, dining room, living room, kitchen + a 4 piece bathroom. Lower level suite with a separate entrance offers 1000+ sqft of livi ng area, 1 bedroom, dining room, kitchen, living room + a 4 piece bathroom. Please do not disturb tenants/access property. Showings of properties subject to an accepted offer to purchase.Prime location within walking distance to Confederation Park, Mount Pleasant community amenities, schools, transit + new green line, shops & restaurants on 4th Street & 16th Ave NW. Quick commute to SAIT + Downtown Calgary. This is an incredible opportunity to develop a multi-family project or hold onto these inner-city Calgary properties with solid revenue generation, buy and hold or redevelop - the possibilities are endless. (id:54626)