Name: 3803 32 Avenue, Vernon | MLS® 10358016
SKU: 10358016
Price: 45000000.0 CAD
Availability: InStock

$45,000,000 Sale

Listed 12 days ago

3803 32 Avenue

MLS® 10358016 Multi Family

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Beds · 0

Baths · 0.0

Parking · 114

Sqft · 81125

Est. mortgage

$170,716/mo

Maintenance Fee

$0/mo

Key Facts

Key facts for 3803 32 Avenue

Property Type

Apartment, Multi-Family

Parking

Garage: No, 114 parking

MLS #

10358016

Size

81125 sqft

Basement

Listed on

Lot size

Tax

Days on Market

Year Built

1940

Maintenance Fee

$ 0/mo

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 Se...lect 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. (id:10452)

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Full Property Details

Interior

Washrooms

0.0

Square Footage

81125 sqft

Heating Type

No heat

Full Bathrooms

Half Bathrooms

Washrooms

0.0

Square Footage

81125 sqft

Heating Type

No heat

Full Bathrooms

Half Bathrooms

Exterior

Acreage

0.84 ac|under 1 acre

Parking Spaces

114

Garage Spaces Y/N

Roof Material

Other

Zoning Type

Multi-Family

Land Amenities

Public Transit, Park, Recreation, Shopping

Acreage

0.84 ac|under 1 acre

Parking Spaces

114

Garage Spaces Y/N

Roof Material

Other

Zoning Type

Multi-Family

Land Amenities

Public Transit, Park, Recreation, Shopping

Building Description

Style

Multi-Family

Home Type

Apartment

Subtype

Multi Family

Year Built

1940

Exterior

Brick, Metal, Vinyl siding

Sewers

Municipal sewage system

Water Supply

Municipal water

Architectural Style

Other

Style

Multi-Family

Home Type

Apartment

Subtype

Multi Family

Year Built

1940

Exterior

Brick, Metal, Vinyl siding

Sewers

Municipal sewage system

Water Supply

Municipal water

Architectural Style

Other

Community

Alexis Park

Area Code

Vernon

Features

Rentals Allowed

Community

Alexis Park

Area Code

Vernon

Features

Rentals Allowed

Taxes & Fees

Maintenance Fee

$ 0/mo

Maintenance Fee

$ 0/mo

Bill McKay

Email: [email protected] Cell: 250-300-9366