1809 33 Street,

Vernon, British Columbia V1T5S2

$1,900,000

Investment and Development opportunity comes knocking! This parcel features a fully tenanted 12 plex located within walking distance to the Jubilee Hospital, downtown Vernon and multiple public transport routes. There are two separate structures broken up into 8 units in one building and then 4 units in another building. The total rents bring in over 10K a month, with history of low vacancy and generates approx. 5% cap rate. The lot is approximately .22 of an acre corner lot which borders 33rd St, 19 Ave and a laneway with approximately 100 ft and a 100 ft of depth. Zoning is currently RM1 - row housing but the city supports the ability to re-zone to multiple options including RM2 - medium density as well as RH1 and RH2 which would support a 4 storey condo complex. This property is to be sold in conjunction with 1805 33 St - MLS: 10253534. There is the ability to develop 1809 and 1805 in separate phases or for the most economical approach, develop both properties together keeping the cost down while attaining the maximum density possible.There is also an assumable mortgage option available at 3.3% for 1809 which also offers purchasing costs savings where lender will not require a new appraisal or environmental, HUGE savings! Contact Vantage West Realty for the full information package including feasibility study done for both lots combined.Not often does a solid investment and development opportunity like this come along so don't hesitate and call today for more information. (id:3942)
ID# 10259758
Courtesy of Vantage West Realty Inc.
Listed on: July 26, 2022

On market: 23 days
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Baseboard heaters

Year Built 1953
Heating Type Baseboard heaters
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