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:47423)
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Detailed Information
Amenities Nearby
Public Transit, Park, Recreation, Shopping
Features
Level lot
Listing Contract Date
2024-12-18
Municipal ID
004-382-633
Ownership Type
Freehold
Property Type
Multi-family
Transaction Type
For sale
Zoning
Unknown
Building
Constructed Date
1940
Heating Type
No heat
Type
Multi-Family
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Other
Utilities
Type
Description
Electricity
Available
Natural Gas
Available
Telephone
Available
Sewer
Available
Water
Available
Land
Total Size
0.84 acres
Access Type
Easy access
Amenities
Public Transit, Park, Recreation, Shopping
Landscape Features
Level
Sewer
Municipal sewage system
Size of Irregular Land
0.84
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