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3703 32 Ave
Vernon, BC V1T 2N2
Multifamily Property For Sale
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21 Units
Executive Summary
Situated on over an acre of land, offering approximately 150-feet of prime frontage, Pioneer Villa is conveniently located within Vernon's City Centre. The subject property consists of three, one-story buildings, totaling 21 1-bedroom, units. Originally built in 1957, the western and northern buildings initially served as a motel, however, in the 1990's, the property was converted into rental housing which included the new construction of the eastern building. Two units have been updated in the last few years. The property is zoned RH1 (Low Rise Apartment Residential) and has 21 parking stalls. Share sale an option and there is an assumable CMHC mortgage financing in place at 4.13% interest rate until June 2033.
Property Facts
| Price Per Unit | $159,524 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 4.42% | Lot Size | 1.09 AC |
| No. Units | 21 | Building Size | 14,700 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2012 |
| Zoning | RH1 | ||
| Price Per Unit | $159,524 CAD |
| Sale Type | Investment |
| Cap Rate | 4.42% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.09 AC |
| Building Size | 14,700 SF |
| No. Stories | 1 |
| Year Built | 2012 |
| Zoning | RH1 |
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