Rare re-development acquisition opportunity for just under half an acre of multi-unit zoned residential development land. One of the few redevelopment sites ever offered on the East Hill in Vernon. Excellent location, close to town, this 120 by 182-foot, 0.49 acre, 21,344 SF site comes improved with a 2,710 square foot, 2-storey, 8-suite, multifamily apartment building that produces good holding income. 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 make the site suitable for 11 Strata Title Units. Property not in Heritage Registry. Don’t miss this rare opportunity.
Property Details
Price: $1,800,000.00
Address: 2003 37th Avenue
City: Vernon
Province: BC
Postal Code: V1T 2W9
Address: 2003 37th Avenue
City: Vernon
Province: BC
Postal Code: V1T 2W9
Status: For Sale
Property Type: Re-Development
Size: 0.49 Acres
MLS#: EXCLUSIVE
Broker: Damon Stamboulieh
Property Type: Re-Development
Size: 0.49 Acres
MLS#: EXCLUSIVE
Broker: Damon Stamboulieh
Additional Features:
FOR SALE
- New Small-Scale, Multi-Unit Zoning allows for a range of smaller scale housing developments, including detached, attached and multi-unit buildings on lots under an acre, up to 3-Storeys in Height.
- Good holding income to deploy for permitting and approval processes and other development costs from a solidly built 8-Suite multifamily apartment building.
- All financial information will be released to qualified parties upon the execution of a signed Confidentiality Agreement.
>> 2003_37Ave2024
Additional Photos
Damon Stamboulieh
North Okanagan SpecialistProperty Map
