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$ 2,500,000
Est. payment | /mo
0.84 Acres Lot
$ 2,500,000
Est. payment | /mo
0.84 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision Alexis Park
MLS® Listing ID 10330575
Originating Board Association of Interior REALTORS®
Year Built 1940
Lot Size 0.840 Acres
Acres 36590.4
Property Sub-Type Freehold
Property Description
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:24570)
Location
State BC
Zoning Unknown
Interior
Heating No heat
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Lot Description Level
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Vantage West Realty Inc.
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