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3803 32 Avenue
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3803 32 Avenue $45,000,000
$45,000,000
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3803 32 Avenue
Vernon, British Columbia V1T2N2

MLS® Number: 10367695

Listing 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. (39445629)

Property Summary

Property Type
Multi-family
Building Type
Multi-Family
Neighbourhood Name
Alexis Park
Title
Strata
Land Size
0.84 ac|under 1 acre
Built in
1940
Annual Property Taxes
$7,060.26
Parking Type
Underground
Time on REALTOR.ca
37 days

Building

Bathrooms
Partial
0
Building Features
Features
Level lot, Balcony
Present Use
Community Multi-Tenant
Architecture Style
Other
Storage
Storage, Locker
Heating & Cooling
Heating Type
No heat
Utilities
Utility Type
Electricity (Available), Natural Gas (Available), Telephone (Available), Sewer (Available), Water (Available)
Utility Sewer
Municipal sewage system
Water
Municipal water
Exterior Features
Roof Style
Other
Exterior Finish
Brick, Metal, Vinyl siding
Neighbourhood Features
Community Features
Rentals Allowed
Amenities Nearby
Public Transit, Park, Recreation, Shopping
Parking
Parking Type
Underground
Total Parking Spaces
114

Measurements

Square Footage
81125 sqft

Land

Lot Features
Landscape Features
Landscaped, Level
View
View (panoramic)
Other Property Information
Access
Easy access
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250-878-6416
Email
Vantage West Realty Inc.
100 - 1060 Manhattan Drive
Kelowna, British Columbia V1Y9X9
250-717-3133
250-717-3193
587-987-9733
REALTOR® Website
Email
Vantage West Realty Inc.
100 - 1060 Manhattan Drive
Kelowna, British Columbia V1Y9X9
250-717-3133
250-717-3193

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