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:4069)
Address
3803 32 Avenue
List Price
$2,500,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Area
British Columbia
Sub-Area
Vernon
Lot Size
0.84 Sq. Ft.
Year Built
1940
MLS® Number
10330575
Listing Brokerage
Vantage West Realty Inc.
Postal Code
V1T2N2
Site Influences
Public Transit, Park, Recreation, Shopping
Features
Level lot
