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| 3803 32 Avenue Vernon V1T2N2 |
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| Price : $45,000,000 |
Listing ID : 10367695
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| Property Type : Multi-family |
Building Type : Multi-Family |
| Title : Strata |
Finished Area : 81125 sqft |
| Built in : 1940 |
Total Parking Spaces : 114 |
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Forward sale opportunity! A fully turn key 125 unit multi-family development in Vernon’s Alexis Park, offered complete with lease-up and professional management in place. This large, flat site is zoned and ready for 6 storey wood frame construction and has been fully pre-positioned for CMHC’s MLI Select program, qualifying for up to 95 percent loan to value financing with 50 year amortization and below market commercial rates. With only $2.5M in required equity, this is a rare chance to secure a Tier 1 asset with minimal capital outlay. Take advantage of Vernon’s sub 1 percent vacancy rate and strong rental demand—the market is hot and purpose-built rental is in high demand. Located near transit, schools, and daily amenities, this site offers long-term rental strength in a high-growth community. Pro forma projects a stabilized value of over $48 million and a 4.67 percent cap on cost. Reach out for the full development package, financials, and details. (id:56537)
Call (250)-864-7337 for showing information. |
| Details |
| Amenities Nearby : Public Transit, Park, Recreation, Shopping |
Access : Easy access |
Appliances Inc : - |
| Community Features : Rentals Allowed |
Features : Level lot, Balcony |
Structures : - |
| Total Parking Spaces : 114 |
View : View (panoramic) |
Waterfront : - |
| Zoning Type : - |
| Building |
| Architecture Style : Other |
Bathrooms (Partial) : 0 |
Cooling : - |
| Fire Protection : - |
Fireplace Fuel : - |
Fireplace Type : - |
| Floor Space : - |
Flooring : - |
Foundation Type : - |
| Heating Fuel : - |
Heating Type : No heat |
Roof Style : Unknown |
| Roofing Material : Other |
Sewer : Municipal sewage system |
Utility Water : Municipal water |
| Basement |
| Type : - |
Development : - |
Features : - |
| Land |
| Landscape Features : Landscaped, Level |
| Rooms |
| Level : |
Type : |
Dimensions : |
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approximate.MLS®, Multiple Listing Service®, and all related graphics are trademarks of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and all related graphics are trademarks of REALTOR® Canada Inc. a corporation owned by The Canadian Real Estate
Association and the National Association of REALTORS® .Copyright © 2023 Don Rae REALTOR® Not intended to solicit properties currently
under contract.
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