3803 32 Avenue, Vernon, British Columbia

Property for Sale in Vernon

3803 32 Avenue, Vernon, BC

  • CA$45,000,000
  • 0 BEDS
  • 0 BATHS
  • 81,125 sq.ft. Home
  • CA$45,000,000

Property for Sale in Vernon

3803 32 Avenue, Vernon, BC

  • CA$45,000,000
  • 0 BEDS
  • 0 BATHS
  • 81,125 sq.ft. Home
  • CA$45,000,000

Key Facts

  • MLS® #: 10358016
  • Property ID: SIRC2555648
  • Property Type: Residential, Other
  • Living Space: 81,125 sq.ft.
  • Lot Size: 0.84 ac
  • Year Built: 1940
  • Parking Spaces: 114
  • Listed By:
  • Vantage West Realty Inc.

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.

Listing Agents

Vantage West Realty Inc.

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Location

3803 32 Avenue, Vernon, British Columbia, V1T 2N2 Canada

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