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| 2003 37 Avenue Vernon V1T2W9 |
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| Price : $1,799,000 |
Listing ID : 10387848
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| Property Type : Multi-family |
Building Type : Multi-Family |
| Title : Freehold |
Finished Area : 5909 sqft |
| Built in : 1910 |
Total Parking Spaces : 8 |
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Rare re-development acquisition opportunity for just under half an acre of multifamily zoned residential development land. New architect renderings for three (3) new development options for townhomes and multifamily apartments with expansive city & lake views. One of the few redevelopment sites ever offered on the East Hill in Vernon. Excellent location, close to town, this rectangular 120 by 182-foot, 0.49-acre, 21,344 SF site with 117 ft of frontage and multiple rear laneway access points. The Lands come improved with a 5,909 square foot, 2-storey, multifamily conversion apartment building that produces good holding income with a suite mix of Five (5) 1-bedroom suites and five (5) studios. The building produces an annual gross income of $124,030.20 or $10,335.85 monthly with more near-term tenant turnovers anticipated to create significant rental increases. The new MUS - Multi-unit: Small Scale zoning allows for a range of small-scale housing development up to 3 Storeys in Height, including detached, attached, and multi-unit housing on lots under 4,050 square meters (1 acre) Zoning permits up to 24 Dwelling Units per acre which makes the site suitable for 12 Strata Title Units. Property not in Heritage Registry. Foundation is poured concrete encased rock, interior finishes include painted wood panel with wainscot/chair railed areas and a mix of carpet, vinyl, laminate, hardwood & tile flooring. Don't miss this rare opportunity to secure a solid income producing asset with excellent redevelopment potential. (id:56537)
Call (250)-864-7337 for showing information. |
| Details |
| Amenities Nearby : Public Transit, Park, Recreation, Schools, Shopping |
Access : Easy access |
Appliances Inc : - |
| Community Features : Family Oriented |
Features : Private setting, Treed |
Structures : - |
| Total Parking Spaces : 8 |
View : City view, Lake view, Mountain view |
Waterfront : - |
| Zoning Type : - |
| Building |
| Architecture Style : Multi-level |
Bathrooms (Partial) : 0 |
Cooling : - |
| Fire Protection : Security system, Smoke Detector Only |
Fireplace Fuel : - |
Fireplace Type : - |
| Floor Space : - |
Flooring : Carpeted, Mixed Flooring, Wood |
Foundation Type : - |
| Heating Fuel : - |
Heating Type : Radiant heat, See remarks |
Roof Style : Unknown |
| Roofing Material : Asphalt shingle |
Sewer : Municipal sewage system |
Utility Water : Municipal water |
| Basement |
| Type : - |
Development : - |
Features : - |
| Land |
| Landscape Features : Landscaped |
| Rooms |
| Level : |
Type : |
Dimensions : |
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Association and the National Association of REALTORS® .Copyright © 2023 Don Rae REALTOR® Not intended to solicit properties currently
under contract.
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