Kelsey Surowiec
Real Estate Professional
Questions? Call: (778) 721-8598
Revenue Generating 11 suite multi-family property with future development for 65 units on .85 of an acre. 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:6289)
| Avg. asking price | $1,221,611 |
| Price per sq. ft. | $562 |
| Median price | $599,900 |
| Number of homes for sale in City of Vernon | 95 |
| Number of homes for sale in Vernon | 540 |
| Avg. Days on Market | N/A |
Multi-family
Vernon, British Columbia
Developers Take Note!! Be A Part Of The Extreme High Demand For Housing In The North Okanagan With This Potential 31 Unit Site In An Exceptional Location Overlooking Vernon Golf & Country Club. Walking/biking Distance On Newly Constructed ...(more)
Multi-family
Vernon, British Columbia
Three Lot Land Assembly In Highly Desirable Central Vernon Location. Backing Onto Park Land And A Creek But Also Close To Shopping, Transit, And Many Other Amenities. Already Zoned Rm2 With The City Showing Willingness To Further Densify To ...(more)
Multi-family
Vernon, British Columbia
48-unit Turtle Mountain Development Project. Project Currently Submitted For Dp! Beautiful Lot At The Base Of Turtle Mountain That Is Targeting An Under-served Segment Of Vernon Market: Higher End Rentals. This Also Has The Potential To Be ...(more)
