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:60850)

Property Details

MLS® Number	10330575
Property Type	Multi-family
Neigbourhood	Alexis Park
Amenities Near By	Public Transit, Park, Recreation, Shopping
Features	Level Lot

Building

Constructed Date	1940
Heating Type	No Heat
Type	Multi-family
Utility Water	Municipal Water

Parking

Other

Land

Access Type	Easy Access
Acreage	No
Land Amenities	Public Transit, Park, Recreation, Shopping
Landscape Features	Level
Sewer	Municipal Sewage System
Size Irregular	0.84
Size Total	0.84 Ac|under 1 Acre
Size Total Text	0.84 Ac|under 1 Acre
Zoning Type	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