A pic from outside/outdoor area/front of a property/back of a property/a pic from drone, building for 3803 32 AVENUE, Vernon British Columbia V1T2N2
8 hours on Market

3803 32 AVENUE, Vernon, British Columbia V1T2N2

Townhouse
-
-
~81125 sqft
$45,000,000
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Townhouse
-
-
~81125 sqft

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Property Estimate

Days on market8 hours

Estimated valueNot available

Price/Sqft$554/sqft

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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. (id:39198)


Property Details

StyleMulti-Family
ViewView (panoramic)
Age of property1940
SqFt~81125 SqFt
Lot Size-
Parking Spaces114
MLS ®Number10358016
Community NameVernon
Data SourceCREA
Listing byVantage West Realty Inc.

Features

Heating: No heat

Parking

Garage spaces -

Garage type -

Total parking spaces 114


Property History

Aug 6, 2025
ListedActive
$45,000,000
8 hours on market
history photo preview32
Listing by crea®
Property listed by Vantage West Realty Inc., Brokerage
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