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$ 45,000,000
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3803 32 Avenue Vernon, BC V1T2N2
81,125 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Townhouse
Sub Type Strata
Listing Status Active
Purchase Type For Sale
Square Footage 81,125 sqft
Price per Sqft $554
Subdivision Alexis Park
MLS® Listing ID 10358016
Style Other
Year Built 1940
Lot Size 0.840 Acres
Acres 0.84
Property Sub-Type Strata
Source Association of Interior REALTORS®
Property Description
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:24570)
Location
Province BC
Zoning Multi-Family
Rooms
Kitchen 0.0
Interior
Heating No heat
Exterior
Parking Features Yes
Community Features Rentals Allowed
View Y/N Yes
View View (panoramic)
Roof Type Unknown
Total Parking Spaces 114
Private Pool No
Building
Lot Description Landscaped, Level
Sewer Municipal sewage system
Architectural Style Other
Others
Ownership Strata
Listed by Vantage West Realty Inc.
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