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Royal LePage
Royal LePage
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$45,000,000
QuickQuoteTM: Not Available

Vernon BC, V1T 2N2

MLS® # 10367695

Property Information:

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:27)

Building Features:

  • Style: Multiplex
  • Building Type: Multi-Family
  • Architectural Style: Other
  • Exterior Finish: Brick, Metal, Vinyl siding
  • Floor Space: 81125 sqft
  • Roof Material: Roof Material
  • Roof Style: Unknown
  • Heating Type: No heat

Property Features:

  • OwnershipType: Strata
  • Property Type: Multi-family
  • Access Type: Easy access
  • Amenities Nearby: Public Transit, Park, Recreation, Shopping
  • Built in: 1940
  • Community Features: Rentals Allowed
  • Features: Level lot, Balcony
  • Floor Space (approx): 81125 Square Feet
  • Landscape Features: Landscaped
  • Storage Type: Storage, Locker
  • Utility Type: Water - Available, Hydro - Available, Sewer - Available, Telephone - Available, Natural Gas - Available
  • View Type: View (panoramic)
  • Sewer: Municipal sewage system
  • Parking Type: Underground
  • No. of Parking Spaces: 114

Courtesy of: Vantage West Realty Inc.

REALTOR.ca  

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⚠ Potential Investment Performance

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Location of 3803 32 Avenue, Vernon, British Columbia, V1T 2N2

Demographic Information of 3803 32 Avenue, Vernon, British Columbia, V1T 2N2

Life Stage

Nearly Retired

Employment Type

Service Sector/White Collar

Average Household Income

$72,710.20

Average Number of Children

1.42

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

25.99 %

High school certificate or equivalent

34.16 %

Apprenticeship trade certificate/diploma

8.86 %

College/non-university certificate

22.63 %

University certificate (below bachelor)

0.6 %

University Degree

7.77 %

Commuter

Travel To Work

By Car

82.73 %

By Public Transit

0.63 %

By Walking

10.15 %

By Bicycle

3.1 %

By Other Methods

3.39 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

78.93 %

Houses

21.07 %

Own Vs. Rent

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