For Sale: 3803 32 Avenue, Vernon, BC - REW
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$2,200,000
0 bd • 0 ba • sf • Multifamily
3803 32 Avenue
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$2,200,000
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3803 32 AvenueVernon, BC, V1T 2N2

  • 0 Bed
  • 0 Bath
  • Sqft
  • Multifamily

About this home

Rare large-scale multi-family development opportunity in the heart of Alexis Park, Vernon. This prime, flat site supports a 125-unit purpose-built rental project and offers one of the lowest cost-per-door opportunities in the Okanagan at under $20,000 per unit. Zoned and ideally suited for 6-storey wood-frame construction, this is one of the most efficient and financeable building forms in today’s market. The property includes two existing income-producing buildings (5-plex and 6-plex) generating approximately $100,000 annually, helping offset holding costs while advancing planning, approvals, or financing. Centrally located on 32nd Avenue, the site is steps from public transit, shopping, and daily amenities, supporting strong long-term rental demand. The large, level lot allows for efficient site planning, underground parking, and streamlined construction. The property is well-positioned for CMHC’s MLI Select program, offering the potential for high-ratio financing, amortizations up to 50 years, and below-market interest rates, significantly improving project feasibility. A forward-sale option is also available, allowing buyers to acquire a fully built, leased, and management up to completion, reducing construction and lease-up risk. A rare opportunity to secure a Tier-1 multi-family site with strong interim income and flexible execution options. (id:63626)
Listed by: Nick Hazzi PREC*, Personal Real Estate Corporation, Vantage West Realty Inc.

Home facts and features

Price details
List Price
$2,200,000
Get Pre-Approved
Gross Taxes for 2026
$7,060
Home facts
Bedrooms
0
Full Bathrooms
Property Type
Multifamily
Lot Size
36590 ft²
Depth
Year Built
Built in 1940 (86 yrs old)
Title
Freehold
Heating Type
No heat
Features
Level lot
Agent details
Primary Agent
Nick Hazzi PREC*
Primary Broker
Vantage West Realty Inc.
Secondary Agent
Secondary Broker
Vantage West Realty Inc.
Listing details
Days on REW
142 Days
Property Views
377
MLS® Number
10373002
Source
Canadian Real Estate Association
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Purchase Price
Mortgage Total
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

Alexis Park School
  • Public
  • Pre-K - 7
Mission Hill Elementary School
  • Public
  • K - 7
Beairsto Elementary School
  • Public
  • 1 - 7
St James School
  • Independent
  • K - 7
W L Seaton Secondary School
  • Public
  • 8 - 12
Harwood School
  • Public
  • Pre-K - 7
Clarence Fulton Secondary School
  • Public
  • 8 - 12
Silver Star Elementary School
  • Public
  • K - 7
Ellison Elementary School
  • Public
  • K - 7
Pleasant Valley Christian Academy
  • Independent
  • K - 4
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Personal Real Estate Corporation
Nick Hazzi PREC*
Phone:
(250) 878-6416
Cell:
250-878-6416
Office:
250-717-3133
Brad Pollard
Phone:
(587) 987-9733
Office:
250-717-3133
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