Space
Finished area and layout
- Living Area
- 5,909 sqft
+37 more
5,909 sqft
Living Area
0.49 ac
Lot
1910
Year Built
8
Parking
Property Snapshot
Key details for this listing
MLS #10400204
Property
Type, style and structure
- Type
- residential
- Style
- multi-family / Multiplex
- Ownership
- Freehold
- Stories
- 1
- Year Built
- 1910
About This Property
This multi-family in Vernon offers 5,909 sqft of living area on a 0.49 ac lot. Built in 1910, 1 storey. The property has lot dimensions of 0.49. The home features radiant heat, see remarks heating.
MLS Remarks
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 $135,547.44 or $11,295.62 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:60351)
Full Listing Details
Address2003 37 Avenue
MLS#10400204
Listing StatusActive
Property TypeResidential
Sub-TypeMulti-family
TransactionSale
Days on Market25
Common InterestFreehold
Parking8
Parking TypeCarport, Rear
Structure TypeMulti-Family
AttachedAttached
StyleMultiplex
Year Built1910
Living Area5,909 sqft
Stories1
CityVernon
ProvinceBritish Columbia
Postal CodeV1T2W9
Lot Size0.49 ac
Lot Dimensions0.49
Frontage120.0 feet
Lot FeaturesPrivate setting, Treed
Total Parking8
Parking FeaturesCarport, Rear
HeatingRadiant heat, See remarks
RoofAsphalt shingle, Unknown
ExteriorWood siding, Cedar Siding
ViewCity view, Lake view, Mountain view
SecuritySecurity system, Smoke Detector Only
CommunityFamily Oriented, Rentals Allowed
SewerMunicipal sewage system
Water SourceMunicipal water
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