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Picked for a similar area, home type, price, bedrooms and size.
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.
Updates mentioned by the listing
- RoofUpdated 2019“Constructed in 1973, the property has benefited from significant ownership investment, including a torch-on roof replacement (2019), a new hydraulic elevator sy”
- Hot waterUpdated 2019“Constructed in 1973, the property has benefited from significant ownership investment, including a torch-on roof replacement (2019), a new hydraulic elevator sy”
- ElectricalUpdated 2019“Constructed in 1973, the property has benefited from significant ownership investment, including a torch-on roof replacement (2019), a new hydraulic elevator sy”
- FlooringUpdated 2019“Constructed in 1973, the property has benefited from significant ownership investment, including a torch-on roof replacement (2019), a new hydraulic elevator sy”
From the listing description. Ask Sean to confirm ages and receipts before you write an offer.
Highlights
- Per the listing, this is a 49-suite apartment building on a 0.78-acre lot built in 1973.
- Per the listing, the roof was replaced in 2019 and a new hydraulic elevator was installed in 2020.
- The property has municipal water and sewer service, and the City zones it Medium Scale Housing (MSH).
- The property is not in the City's flood or wildfire hazard permit areas, per City of Vernon map facts.
- Town centre Vernon is about 1.1 km away and Vernon Jubilee Hospital about 380 m, straight-line.
Things to check
- Ask whether the building is heated by baseboards only or by the on-demand IBC system the listing describes.
- Ask for the age and service records of the heating, hot water, plumbing and electrical systems, given the 1973 build year.
- Ask for the written pet restrictions and how many parking stalls the building has.
- Ask for the current rent roll and operating expenses before relying on the in-place income.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Did you know?: Greater Vernon was officially recognized as the Trails Capital of BC in 2023. Living in Vernon: questions newcomers ask →
Overall neighbourhood score 8.7 / 10; walk & bike score 6.8 / 10, from how close the nearest school, park or trail, rec centre and town centre are. Scores and distances are Sean Phillips’s own straight-line measures from this home to public B.C. map data. They are not part of the MLS® listing; driving distances are longer, so please check anything that matters to you.
- Price
- $9,630,000
- MLS® number
- 10386799
- Property type
- Commercial · multi-family
- Ownership
- Freehold
- Lot size
- 0.78 acres
- Year built
- 1973
- Parking spaces
- 37
- Annual taxes
- $38,369
- Community
- City of Vernon, Vernon
- Heating
- Baseboard heaters
- Cooling
- Wall unit
- Parking
- Stall
- Water
- Municipal water
- Sewer
- Municipal sewage system
- Parking details
- 37 spaces in total · Stall
From the City of Vernon’s public maps, checked October 26, 2026. Not part of the MLS® listing. Please confirm anything important with the City.
- 1410 POLSON DR: to re-designate the Official Community Plan designation from Urban Neighborhood, Industrial, and Community to Village Centre to accommodate a proposed mixed-use community. Application
- 1410 POLSON DR: To re-zone the subject property from the INDL: Light Industrial, PANS: Parks & Natural Spaces, and CMTY: Community Zone to the CMUC: Commercial Mixed Use Centre Zone to facilitate a mixed-use community. Also to increase the maximum permitted height in the CMUC Zone at 1700 Polson Dr and 1714 Kalamalka Lake Rd from 60m (16 storeys) to 112m (36 storeys). Application
A nearby fire hall matters for home insurance and emergencies; firefighters are often first on scene for medical calls too.
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Listing information is provided by Marcus & Millichap through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-09-30.