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
Request More Information
Request More Information
Location
3803 32 Avenue, Vernon, British Columbia, V1T 2N2 Canada
Around this property
Information about the area within a 5-minute walk of this property.
Request Neighbourhood Information
Learn more about the neighbourhood and amenities around this home
Request NowPayment Calculator
- $
- %$
- %
- Principal and Interest 0
- Property Taxes 0
- Strata / Condo Fees 0