3803 32 Avenue, Vernon, British Columbia

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.

3803 32 Avenue, MLS#: 2042 is located in Vernon, British Columbia, Postal Code: V1T 2N2. The home is 81,125 sq. ft. with 0 bedrooms and 0 bathrooms.

The Multi-Family property was constructed in 1940.

The property is currently listed at $45,000,000.