BOWNESS FOURPLEX INFILL OPPORTUNITY: This offering presents a fully approved development opportunity in one of Calgary's resilient rental submarkets, Bowness. The property comprises a 5,991 sq. ft. R-CG-zoned parcel with an active City of Calgary Development Permit for an optimized "4+4" residential income property. The approved plans provide four custom designed two-story, two or three bedroom townhomes, each paired with fully independent legal one-bedroom lower secondary suites featuring a private exterior entrance. Value proposition and De-Risked Advantages: Avoid twelve months of administrative review, design revisions and approval delays. The Development Permit positions the project ready for Building Permit application. Infrastructure certainty: The Development Site Servicing Plan (DSSP) has been fully engineered and approved by the City of Calgary. Key development items addressed: Municipal development levy have been accounted for within the transaction framework. Approximately 1 km from Bowness Park, with nearby transit and community amenities, the property offers potential for long-term rental ownership. The existing bungalow and basement development requiring improvements may provide holding income upon occupancy approval until issuance of Building Permit ready for construction. An investment pro forma, architectural and site plans, and approved DP package are available to qualified buyers upon request. Buyers may explore CMHC MLI Select financing, subject to eligibility and lender approval. Buyers to independently verify approvals, remaining building permit requirements, costs, rental assumptions and projected returns. A Financial pro-forma has been prepared for illustrative and marketing purposes only, While metrics are deemed reliable, the seller and listing brokerage make no representations or warranties, express or implied, as to the accuracy of construction costs, future rental revenues, or municipal fee structures. Buyers must conduct their own independent financial and operational due diligence. Disclaimers: The existing home on the property is being sold strictly in as-is, where-is condition for lot value and development purposes. The structure has not been inspected for occupancy, and no warranties or representations are made regarding its safety, habitability or compliance with current building codes. All licenced agents and prospective buyers entering the home do so entirely at their own risk. Disclosure: the selling agent has a financial interest in the property.
Address
8312 47 Avenue NW
List Price
$935,000
Property Type
Residential
Type of Dwelling
Detached
Style of Home
Bungalow
Transaction Type
Sale
Area
Calgary NW
Sub-Area
Bowness
Bedrooms
2
Bathrooms
2
Floor Area
1,292 Sq. Ft.
Lot Size
5991 Sq. Ft.
Year Built
1955
MLS® Number
A2303139
Listing Brokerage
Sotheby's International Realty Canada
Basement Area
Full
Postal Code
T3B 1Z7
Zoning
R-CG
Site Influences
Back Lane, Back Yard, Fishing, Few Trees, Front Yard, Interior Lot, Lawn, Landscaped, Level, Schools Nearby, Shopping Nearby, Park, Walking/Bike Paths, Playground, Pond, Pool, Tennis Court(s)