Investment or Development opportunity comes knocking! This parcel features a fully tenanted 12 plex located within walking distance to the Jubilee Hospital, downtown Vernon and public transport routes. There are two separate structures broken up into 8 units in one building and then 4 units in another building. The total rents bring in over $128,000 annually,generates approx. 5% cap rate, a consistent history of low vacancy with an upside opportunity as rents have a potential to increase. There is also an assumable mortgage option available at 3.3% which also offers purchasing costs savings where a purchaser can save costs on an appraisal or environmental, HUGE savings!The lot is approximately .22 of an acre corner lot which borders 33rd St, 19 Ave and a laneway with approximately 100 ft and a 100 ft of depth.Zoning is currently RM1 – row housing but the city supports the ability to re-zone to multiple options including RM2 – medium density as well as RH1 and RH2 which would support a 4 storey condo complex.Contact Vantage West Realty for the full information package including feasibility study done for both lots. Not often does a solid investment and development opportunity like this come along so don’t hesitate and call today for more information.

Floor Plans & Pricing


Property Features

  • Fireplace Fuel: Carport
  • Heating Type: Baseboard heaters
  • Ownership Type: Freehold
  • Utility Sewer: Municipal sewage system
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