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2800 35 St
Vernon, BC V1T 2E4
Multifamily Property For Sale
·
42 Units
EXECUTIVE SUMMARY
Great opportunity to purchase a 42 unit apartment building in Downtown Vernon that has been upkept and well maintained over the years. 38 of the 42 units have been renovated over the past 6 years with newer bathroom and/or kitchens, new laminate flooring refreshed carpets and cabinets. Roof replaced in 2013m with new intercom system that links to tenants cellphones. Great revenue, 41 or the 42 units currently leased. The property is zoned RH3 (High-Rise Apartment Residential) allowing for 65 units per acre with potential to increase to 79 units per acre. Share sale an option and assumable CMHC financing in place until June 1, 2033 at 3.82% rate.
PROPERTY FACTS
| Price Per Unit | $164,033 USD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.07% | Lot Size | 0.81 AC |
| No. Units | 42 | Building Size | 40,806 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1972 |
| Zoning | UC1 | ||
| Price Per Unit | $164,033 USD |
| Sale Type | Investment |
| Cap Rate | 5.07% |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.81 AC |
| Building Size | 40,806 SF |
| No. Stories | 3 |
| Year Built | 1972 |
| Zoning | UC1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 26 | - | - |
| 2+1 | 16 | - | - |
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