LOADING

#3805 3803 32nd Avenue, Vernon, British Columbia V1T 2N2

$2,225,000

Acquire this prime multi-family development site in Alexis park. 0.85 acre gently sloped, easily developed 36,000 ft parcel is zoned RH1 with 65% lot coverage allowing a 4-story 54,000 sqft building. 800 ft2 per dwelling unit, will translate to 65 units. The price per buildable foot is approx 42 dollars, just under $35,000 per unit making this the most economically viable development site in the Okanagan. Enjoy over $100,000 in annual rental revenue while your development plans take shape. All value is derived from the land. The two buildings and their revenue is purely a bonus. The location is located with Turtle Mountain as a backdrop, next to a convenience store, and on a bus route. Site will make for a wonderful purpose-built rental project aimed at affordable housing. Take advantage of CMHC programs that offer some very nice incentives for developers building this type of property. Sellers have priced this property for immediate sale. Their loss is your gain! Call today. (id:27192)

Property Details

MLS® Number 10265537
Property Type Multi-family
Neigbourhood City of Vernon
Amenities Near By Golf Course, Shopping
Features Central Location

Building

Constructed Date 1950
Type Multi-family

Land

Access Type Easy Access
Acreage No
Land Amenities Golf Course, Shopping
Size Irregular 0.76
Size Total 0.76 Ac|under 1 Acre
Size Total Text 0.76 Ac|under 1 Acre

Utilities

Sewer Available

https://www.realtor.ca/real-estate/25101572/3805-3803-32nd-avenue-vernon-city-of-vernon

Interested?

Contact us for more information


Generating Captcha

Paul Mccallum

(604) 530-4141

Homelife Benchmark Realty (Langley) Corp.
116 - 4061 200 Street
Langley, British Columbia V3A 1K8

(604) 530-4141
www.homelifelangley.com

Adrian Hazzi

(250) 717-3133
www.ajhazzi.com/
https://www.facebook.com/#!/teamhazzi
ca.linkedin.com/pub/a-j-hazzi/1a/2b7/b98

Vantage West Realty Inc.
100 - 1060 Manhattan Drive
Kelowna, British Columbia V1Y 9X9

(250) 717-3133
(250) 717-3193

Your Favourites

 

No Favourites Found