3803 32 Avenue Vernon, British Columbia V1T 2N2
$2,500,000
Opportunity knocks on 32nd Ave in Alexis Park, Vernon, BC! This prime development property boasts the potential for 125 multi-family units, priced at an unbeatable rate of under $20K per door—easily the best deal in the Okanagan. Perfect for 6 story wood frame construction. This is the most efficient building you can built right now. With two existing revenue-generating structures, a 5 unit and the other a 6 unit, bringing in approx. $100K annually, carry costs are offset, making it a dream to secure commercial financing. The large, flat lot is perfectly situated near public transit and next to a convenience store, offering unparalleled ease for future residents. Ideal for an MLI Select CMHC program, this is your chance to lock in high-ratio financing and 50-year money at below-market commercial rates. (id:45850)
Property Details
| MLS® Number | 10330575 |
| Property Type | Multi-family |
| Neigbourhood | Alexis Park |
| AmenitiesNearBy | Public Transit, Park, Recreation, Shopping |
| Features | Level Lot |
Building
| ConstructedDate | 1940 |
| HeatingType | No Heat |
| Type | Multi-family |
| UtilityWater | Municipal Water |
Parking
| Other |
Land
| AccessType | Easy Access |
| Acreage | No |
| LandAmenities | Public Transit, Park, Recreation, Shopping |
| LandscapeFeatures | Level |
| Sewer | Municipal Sewage System |
| SizeIrregular | 0.84 |
| SizeTotal | 0.84 Ac|under 1 Acre |
| SizeTotalText | 0.84 Ac|under 1 Acre |
| ZoningType | Unknown |
Utilities
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
| Sewer | Available |
| Water | Available |
https://www.realtor.ca/real-estate/27745874/3803-32-avenue-vernon-alexis-park
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December 18 2024 10:19:46
Okanagan-Mainline Real Estate Board
Vantage West Realty Inc.