3803 32 AvenueVernonBritish ColumbiaV1T2N2

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:35966)

Listing Details

Property Details

Full Address:
3803 32 Avenue, Vernon, British Columbia
Price:
$ 2,500,000
MLS Number:
10330575
List Date:
December 18th, 2024
Neighbourhood:
Alexis Park
Lot Size:
0.84 ac
Year Built:
1940
Taxes:
$ 7,060

Interior Features

Heating:
No heat

Building Features

Sewer:
Municipal sewage system
Water:
Municipal water
Zoning:
Unknown
Garage:
Other
Ownership Type:
Freehold
Taxes:
$ 7,060

Floors

Land

Lot Size:
0.84 ac

Neighbourhood Features

Ratings

Commercial Info

Location

Neighbourhood Details