About 3803 32 Avenue
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:6289)
Amenities of 3803 32 Avenue
| Amenities |
Public Transit, Park, Recreation, Shopping
|
| Utilities |
Electricity, Natural Gas, Telephone, Sewer, Water
|
| Features |
Level lot, Balcony
|
| Parking Spaces |
114
|
| Parking |
Underground
|
| View |
View (panoramic)
|
| Is Waterfront |
No
|
| Has Pool |
No
|
Interior of 3803 32 Avenue
| Heating |
No heat
|
| Fireplace |
No
|
| Has Basement |
No
|
Exterior of 3803 32 Avenue
| Exterior |
Brick, Metal, Vinyl siding
|
| Exterior Features |
Landscaped, Level
|
| Roof |
Other
|
Listing Details
| Office | Vantage West Realty Inc. |
|---|
Map To 3803 32 Avenue, Vernon
