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3803 32 Avenue, Vernon
2026-01-16
Quick Summary
- Location
- 3803 32 Avenue, Vernon, British Columbia V1T2N2
- Price
- $2,200,000
- Status:
- For Sale
- Property Type:
- Multi-family
- Year of Construction:
- 1940
MLS®#10373002
Property Description
Rare large-scale multi-family development opportunity in the heart of Alexis Park, Vernon. This prime, flat site supports a 125-unit purpose-built rental project and offers one of the lowest cost-per-door opportunities in the Okanagan at under $20,000 per unit. Zoned and ideally suited for 6-storey wood-frame construction, this is one of the most efficient and financeable building forms in today’s market. The property includes two existing income-producing buildings (5-plex and 6-plex) generating approximately $100,000 annually, helping offset holding costs while advancing planning, approvals, or financing. Centrally located on 32nd Avenue, the site is steps from public transit, shopping, and daily amenities, supporting strong long-term rental demand. The large, level lot allows for efficient site planning, underground parking, and streamlined construction. The property is well-positioned for CMHC’s MLI Select program, offering the potential for high-ratio financing, amortizations up to 50 years, and below-market interest rates, significantly improving project feasibility. A forward-sale option is also available, allowing buyers to acquire a fully built, leased, and management up to completion, reducing construction and lease-up risk. A rare opportunity to secure a Tier-1 multi-family site with strong interim income and flexible execution options. (id:32467)
Property Features
Ammenities Near By
- Ammenities Near By: Public Transit, Park, Recreation, Shopping
Building
- Fireplace: No
- Building Type: Multi-Family
- Utility Water: Municipal water
Features
- Feature: Level lot
Land
- Land Size: 0.84 ac|under 1 acre
- Sewer: Municipal sewage system
Ownership
- Type: Freehold
Information entered by Vantage West Realty Inc.
Listing information last updated on: 2026-01-16 17:59:06
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How much could you save in commission selling with One Percent Realty?
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$500,000
Your One Percent Realty Commission savings†
$500,000
†
Savings calculated using One Percent Realty's posted commission rates compared to another agent charging
7% on the first 100k & 2.5% on the balance + GST. Not all agents charge the same.
One Percent Realty's top FAQs
We charge a total of $9,950 for properties under $900,000. For properties over $900,000 we charge 1% of the sale price plus $950. Plus Applicable taxes, of course. It is as simple as that.
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