3803 32 Avenue Vernon, British Columbia V1T 2N2
$45,000,000
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:46156)
Property Details
| MLS® Number | 10358016 |
| Property Type | Multi-family |
| Neigbourhood | Alexis Park |
| Amenities Near By | Public Transit, Park, Recreation, Shopping |
| Community Features | Rentals Allowed |
| Features | Level Lot, Balcony |
| Parking Space Total | 114 |
| Storage Type | Storage, Locker |
| View Type | View (panoramic) |
Building
| Architectural Style | Other |
| Constructed Date | 1940 |
| Exterior Finish | Brick, Metal, Vinyl Siding |
| Heating Type | No Heat |
| Roof Material | Other |
| Roof Style | Unknown |
| Size Interior | 81,125 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
Parking
| Underground |
Land
| Access Type | Easy Access |
| Acreage | No |
| Land Amenities | Public Transit, Park, Recreation, Shopping |
| Landscape Features | Landscaped, 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 | Multi-family |
Utilities
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
| Sewer | Available |
| Water | Available |
https://www.realtor.ca/real-estate/28696038/3803-32-avenue-vernon-alexis-park
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August 06 2025 04:23:09
Association of Interior REALTORS®
Vantage West Realty Inc.
