$9,630,000

1604 31 Street, Vernon

City of Vernon, Vernon, BC V1T5G8

Commercial

Listed by Marcus & Millichap

About this property

Rare multifamily opportunity of scale in Vernon, British Columbia. This well-maintained 49-suite apartment building, situated on a 40,827 SF lot, offers investors a compelling combination of durable in-place income, meaningful capital upgrades, and a proven path to future revenue growth. Constructed in 1973, the property has benefited from significant ownership investment, including a torch-on roof replacement (2019), a new hydraulic elevator system with cab control panel (2020), new common area flooring and paint, exterior driveway re-pave and re-line, and a modern IBC on-demand hot water and heating system, materially improving long-term operational efficiency and reliability. (id:67417)

Property details

Price

$9,630,000

MLS® number

10386799

Property type

Commercial · Multi-Family · Multi-family

Ownership

Freehold

Lot size

0.78 acres · 0.78

Year built

1973

Parking spaces

37

Annual taxes

$38,369

Community

City of Vernon, Vernon

Features

Heating

Baseboard heaters

Cooling

Wall unit

Parking

Stall

Community

Pets Allowed With Restrictions

Water

Municipal water

Sewer

Municipal sewage system

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