$4,380,000
5702 - 5716 2 Street SW Calgary, AB T2H1Y6
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Nick Penney
info@nickpenney.com
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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Nick Penney
info@nickpenney.com$4,380,000
Est. payment /mo
828 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 828 sqft
Price per Sqft $5,289
Subdivision Manchester
MLS® Listing ID A2163994
Originating Board Calgary Real Estate Board
Year Built 1944
Lot Size 0.574 Acres
Acres 25000.0
Property Description
A prime land assembly is available in Manchester, Calgary, offering exceptional potential for high-density mixed-use development. Situated near the bustling intersection of Macleod Trail and 55 Avenue SW, the property spans approximately 25,000 square feet and is zoned DC-1 with Permitted Uses of MU-1 (MU-1f8h75), allowing for a wide range of commercial and residential uses (Proposed Plans for 146 Units, permitted). With a FAR of 5.0, which can be expanded to 8.0, developers have the flexibility to create a dynamic project that caters to the growing demand for housing and commercial space in this thriving community. The property's strategic location, combined with the favorable zoning and development potential, presents a unique opportunity for investors and developers seeking to capitalize on Manchester's rapid growth and vibrant lifestyle. The land assembly includes a diverse mix of existing properties, including a 4plex, duplex, single-family home with a basement suite, and a single-family home. This provides a solid foundation for redevelopment and offers potential rental income during the planning and construction phases. Manchester, a mature and established neighborhood, has experienced significant population growth in recent years, driven by its proximity to major amenities, transportation options, and the area's overall appeal. The demand for housing and commercial space in Manchester continues to outpace the city average, making this land assembly a highly desirable investment opportunity. Land Assembly is currently bringing in $120,540 Annual Gross Income. (id:24570)
Location
Province AB
Exterior
Garage No
Waterfront No
View Y/N No
Private Pool No
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Listed by CIR Realty
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Nick Penney