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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 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
Province 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.