3 Beds
2 Baths
1,395 SqFt
3 Beds
2 Baths
1,395 SqFt
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1395.0
Square Footage 1,395 sqft
Price per Sqft $440
Subdivision Forest Lawn
MLS Listing ID A2330043
Style 3 Level Split
Bedrooms 3
Full Baths 2
HOA Y/N No
Year Built 1961
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Detached
Property Description
Investors and developers — this is an opportunity to acquire an already-approved multi-family infill project and bypass much of the time,cost and uncertainty normally associated with starting a new development.
Located in Calgary's Forest Lawn redevelopment corridor,this 50' x 122' R-CG site has an APPROVED Development Permit for TWO DUPLEXES containing EIGHT self-contained residential units**,plus FOUR detached garages. 8 UNITS. APPROVED DESIGN. SIGNIFICANT TIME SAVINGS.
The approved project provides approximately:
8 self-contained residential units,approximately 1,270 sq. ft. above grade per unit,approximately 500 sq. ft. of developed legal basement space/ unit,4 detached garages,2 modern duplex buildings,Approved Development Permit,DSSP approval,Building plans available,Demolition process underway.
This is not a speculative rezoning play. The development entitlement is already substantially advanced,allowing the next owner to focus on financing,Building Permit completion and construction rather than starting the planning process from zero.
BUILT FOR INVESTORS AND DEVELOPERS
The property offers multiple potential exit strategies:
BUILD & SELL: Construct and sell the completed units individually,subject to market conditions and applicable requirements.
BUILD & HOLD: Retain the completed units as a multi-family rental portfolio and build long-term equity and rental income.
DEVELOP & PARTNER: A qualified investor or developer can potentially structure a joint venture using the approved development as the foundation for the project.
FINANCING STRATEGY: The approved eight-unit configuration may be suitable for financing strategies available to qualifying multi-family projects,including potential CMHC programs,subject to current program requirements,lender approval and project eligibility.
The purchaser acquires an opportunity with an approved Development Permit,approved development configuration and supporting plans already in place,creating a substantially shorter path toward construction.
The seller is also prepared to assist with the applicable partial Building Permit process,subject to City requirements and mutually agreed transaction terms.
The location provides convenient access to established amenities while offering exposure to ongoing infill and redevelopment activity in the surrounding area.
FLEXIBLE DEAL STRUCTURES AVAILABLE (Qualified purchasers are invited to discuss): Joint-venture opportunities,Vendor-take-back financing,Traditional purchase,Other mutually acceptable transaction structures.
Location
Province AB
County 0046
Community Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Area Cal Zone E
Zoning MC-1
Direction SE
Rooms
Basement None, Full, Finished
Interior
Interior Features Storage, Vinyl Windows
Heating Forced Air, Natural Gas
Cooling None
Flooring Carpet, Hardwood, Laminate, Tile
Inclusions NA
Fireplace No
Appliance Electric Stove, Microwave, Refrigerator, Washer/Dryer
Laundry In Basement
Exterior
Exterior Feature None
Parking Features Double Garage Detached
Garage Spaces 2.0
Fence Fenced
Community Features Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Roof Type Asphalt Shingle
Porch None
Total Parking Spaces 2
Garage Yes
Building
Lot Description Back Lane, Back Yard, Front Yard
Dwelling Type House
Faces W
Story 3 Level Split
Foundation Poured Concrete
Architectural Style 3 Level Split
Level or Stories 3 Level Split
New Construction No
Others
Restrictions None Known
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1816 Crowchild Trail NW, Calgary, AB T2M 3Y7, Calgary, Alberta T2M 3Y7, CAN