3803 32 Avenue, Vernon, British Columbia, V1T 2N2

MLS® # 10367695

Investment For Sale In Vernon, British Columbia

$45,000,000 QuickQuote^TM: Not Available

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3803 32 Avenue, Vernon, BC - Outdoor With Facade

Underground Parkade with 114 stalls, 55 small, 56 regular, and 3 accessible. - 3803 32 Avenue, Vernon, BC - Other

The building includes a total of 125 residential units, consisting of 71 one-bedroom Type B units, 12 two-bedroom Type C units, 12 three-bedroom Type D units, and 30 bachelor units. - 3803 32 Avenue, Vernon, BC - Other

3803 32 Avenue, Vernon, BC - Outdoor With View

Home Insurance - TD Insurance

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3803 32 Avenue, Vernon, British Columbia, V1T 2N2

$45,000,000

Property Information:

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:27)

Building Features:

Style: Multiplex
Building Type: Multi-Family
Architectural Style: Other
Exterior Finish: Brick, Metal, Vinyl siding
Floor Space: 81125 sqft
Roof Material: Roof Material
Roof Style: Unknown
Heating Type: No heat

Property Features:

OwnershipType: Strata
Property Type: Multi-family
Access Type: Easy access
Amenities Nearby: Public Transit, Park, Recreation, Shopping
Built in: 1940
Community Features: Rentals Allowed
Features: Level lot, Balcony
Floor Space (approx): 81125 Square Feet
Landscape Features: Landscaped
Storage Type: Storage, Locker
Utility Type: Water - Available, Hydro - Available, Sewer - Available, Telephone - Available, Natural Gas - Available
View Type: View (panoramic)
Sewer: Municipal sewage system
Parking Type: Underground
No. of Parking Spaces: 114

Courtesy of: Vantage West Realty Inc.

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Market Price Trends

All Properties

0.23%

Price change (1 year)

42.81%

Price change (5 years)

Location of 3803 32 Avenue, Vernon, British Columbia, V1T 2N2

Lifestyle
Neighbourhood

Climate Risk Data

About Climate Risk: Properties are at increased risk of damage from extreme weather due to climate change.
ClimateCheck provides detailed climate risk data for properties now and up to 30 years into the future.

Projected Heat Risk: Moderate

26 hot days expected in 2050

Projected Precipitation Risk: Moderate-Low

13 storms expected in 2050

Projected Heat Risk: Moderate

26 hot days expected in 2050

47/100

Moderate

ClimateCheck®

Current data

This property, 3803 32 Avenue , experiences 7 hot days per year at around 32.8 degrees Celsius.

Projected data

Severe heat risk is expected to increase in this area. In 2050, it is projected that there will be 26 hot days at 36.6 degrees Celsius.

Projected Avg. Temperature

Past

32.8℃

2050

36.6℃

# Hot Days Per Year

Past

2050

About Heat Risk

Heat risk is the number of extreme heat days experienced each year looking at historical conditions (1980-2005) in your area and taking the 2% of the hottest days and projecting that into the future.

Projected Precipitation Risk: Moderate-Low

13 storms expected in 2050

32/100

Moderate-Low

ClimateCheck®

Current data

This property, 3803 32 Avenue , experiences 12 significant 2-day storms per year, with about 172.3mm of precipitation per storm.

Projected data

Severe storms are expected to increase in this area. In 2050, it is projected that there will be 13 significant 2-day storms with 192.6mm of precipitation per year.

Precipitation Per Storm

Past

172.3mm

2050

192.6mm

48-Hour Storms Per Year

Past

2050

About Storm Risk

Storm risk is the number of high wind, wet or snowy events each year. Climate check looks at historical conditions (1980-2005) in your area, on the days with the top 1% of total precipitation in a year and projected to 2050.

Climate risk data is provided for informational purposes only on Royallepage.ca.
If you have questions or feedback about this data, get help at climatecheck.com.

Environmental Risks provided by ClimateCheck®

Royal LePage does not endorse nor guarantee this information. By providing this information, Royal LePage and its agents are not providing advice or guidance on climate risks. Royal LePage strongly recommends that consumers independently investigate the property’s climate risks to their own personal satisfaction.

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Demographic Information of 3803 32 Avenue, Vernon, British Columbia, V1T 2N2

Life Stage

Nearly Retired

Employment Type

Service Sector/White Collar

Average Household Income

$72,710.20

Average Number of Children

1.42

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

25.99 %

High school certificate or equivalent

34.16 %

Apprenticeship trade certificate/diploma

8.86 %

College/non-university certificate

22.63 %

University certificate (below bachelor)

0.6 %

University Degree

7.77 %

Commuter

Travel To Work

By Car

82.73 %

By Public Transit

0.63 %

By Walking

10.15 %

By Bicycle

3.1 %

By Other Methods

3.39 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

78.93 %

Houses

21.07 %

Own Vs. Rent

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Property Information:

Building Features:

Property Features:

Market Price Trends

All Properties

Location of 3803 32 Avenue, Vernon, British Columbia, V1T 2N2

Climate Risk Data

Current data

Projected data

About Heat Risk

Current data

Projected data

About Storm Risk

Demographic Information of 3803 32 Avenue, Vernon, British Columbia, V1T 2N2

Household Population

Household Structure

Age of Population

Education

Education Level

Commuter

Travel To Work

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Own Vs. Rent

3803 32 Avenue, Vernon, British Columbia, V1T 2N2

Please contact your agent directly about this listing

Please contact your agent directly about this listing

Please contact your agent directly about this listing