Land Assembly :This exceptional real estate opportunity, comprising 1718, 1724, and 1728 17 Avenue SW, presents a rare combination of immediate rental income and significant future development potential. With a total square footage of 18,201.77 and a 160-foot-wide expanse along the esteemed 17th Avenue SW, developers and investors are offered a trio of full houses.At 1718 17 Avenue SW, a 60/100 feet corner lot with 5 bedrooms and 2 bathrooms is currently undergoing restoration after a minor fire. This property, complete with an partly finished basement ,is poised for new tenants.Adjacent properties, 1724 and 1728 17 Avenue SW, both with dimensions of 50/111 feet and 50/121 feet, feature 5 bedrooms, 2 bathrooms, and illegal basement suites. The house at 1728 has an upgraded RMS area of 1103.69 sq ft, and the garage dimensions are 12/20 sq feet. Similarly, the house at 1724 boasts an upgraded RMS area of 1030.94 sq ft, with garage dimensions also measuring 12/20 sq feet. Notably, 1724 is leased for $3,000 plus utilities under a one-year agreement until July 31, 2024, while 1728 is leased for $3,500 plus utilities with a similar lease term.Beyond the immediate rental income, the development potential is vast, pending city and Scarboro Community Association confirmation and approval. Options range from adding a lane home or creating a duplex/fourplex to incorporating commercial space, developing a mixed-use condominium, or constructing a multi-residential condominium similar to a successful project adjacent to 1718.Current rental income from these properties ranges from $3,000 to $3,500. However, unlocking the full potential through city-approved developments could transform this property into a highly lucrative investment. The location advantages, from its prestigious 17th Avenue SW address to quick access to Downtown, Crowchild Trail, the Bow River, C Train station, and a conveniently located bus stop, add to its appeal.Seizing this rare opportunity, contingent on city and Scarboro Community Association approval, seamlessly combines immediate returns with substantial future development. Don’t miss out, secure your showing now.

Property Details

Price:
$2,550,000
MLS #:
A2097614
Status:
Active
Beds:
12
Baths:
6
Address:
1718,1724,1728 17 Avenue SW
Type:
Single Family
Subtype:
Detached
City:
Calgary
Listed Date:
Dec 14, 2023
Province:
AB
Finished Sq Ft:
1,017
Postal Code:
207
Subdivision:
Scarboro
Lot Size:
18,201 sqft / 0.42 acres (approx)
Year Built:
1945

Schools

Interior

Appliances
Gas Stove, Refrigerator, Washer/ Dryer
Basement
Full, Suite
Bathrooms Full
6
Laundry Features
In Basement, In Unit

Exterior

Exterior Features
Fire Pit, Garden, Private Yard
Lot Features
Back Lane, Back Yard, Irregular Lot, Many Trees, Rectangular Lot, Treed
Parking Features
Double Garage Detached, Off Street, Single Garage Detached, Stall
Parking Total
4
Patio And Porch Features
None
Roof
Asphalt Shingle

Financial

Map

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