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Outstanding covered land play opportunity. Rare re-development acquisition opportunity for just under half an acre of multifamily zoned residential development land. New architect renderings for three (3) new development options for townhomes and multifamily apartments with expansive city & lake views. One of the few redevelopment sites ever offered on the East Hill in Vernon. Excellent location, close to town, this rectangular 120 by 182-foot, 0.49-acre, 21,344 SF site with 117 ft of frontage and multiple rear laneway access points. The Lands come improved with a 5,909 square foot, 2-storey, multifamily conversion apartment building that produces good holding income with a suite mix of Five (5) 1-bedroom suites and five (5) studios. The building produces an annual gross income of $135,547.44 or $11,295.62 monthly with more near-term tenant turnovers anticipated to create significant rental increases. The building produces enough annual revenue to cover all expenses & provide a healthy net income over and above holding costs. The new MUS - Multi-unit: Small Scale zoning allows for a range of small-scale housing development up to 3 Storeys in Height, including detached, attached, and multi-unit housing on lots under 4,050 square meters (1 acre) Zoning permits up to 24 Dwelling Units per acre which makes the site suitable for 12 Strata Title Units. Property not in Heritage Registry. Foundation is poured concrete encased rock, interior finishes include painted wood panel with wainscot/chair railed areas and a mix of carpet, vinyl, laminate, hardwood & tile flooring. Don't miss this rare opportunity to secure a solid income producing asset with excellent redevelopment potential.
Highlights
- Zoned Multi-Unit: Small Scale (MUS), which the listing says allows up to 3 storeys and multi-unit housing on lots under 1 acre.
- The 0.49-acre (21,344 sq ft) lot has 117 ft of frontage and multiple rear laneway access points.
- An existing 2-storey building has five 1-bedroom suites and five studios, with annual gross income of $135,547.44 per the listing.
- Municipal water and sewer serve the property, and it is not in a City flood or wildfire hazard permit area.
- Nearby: Vernon town centre 900 m, Vernon Civic Arena 920 m, and Vernon Jubilee Hospital 1.7 km.
Things to check
- Ask for the rent roll, lease terms and actual expense figures, as the listing gives no expense amounts.
- Ask the City which approvals a 12-unit strata project would need, as the renderings show three concept options.
- Ask whether the five studios and five 1-bedroom suites are permitted, as the building is described as a multifamily conversion.
- The City has a development application on file within about 400 m. See City of Vernon map facts for details.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Overall neighbourhood score 8.8 / 10; walk & bike score 7.5 / 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.
- Grocery storeSafeway · 1.8 km21 min there, 24 min home50 m uphill coming home · 17% tree shade
- CoffeeBean to Cup · 0.6 km8 min there, 10 min home35 m uphill coming home · 28% tree shade
- Elementary schoolBeairsto Elementary School · 0.8 kmSchool walk check: Footpaths, sidewalks or quiet streets for about 70% of the walk · 1 main-road crossing: 27 Street (marked crosswalk)10 min there, 12 min home35 m uphill coming home · 28% tree shade
- Park or playgroundGirouard Park · 0.5 km7 min there, 8 min home30 m uphill coming home · 35% tree shade
- Beach / lake accessKal Beach · 4.9 km59 min there, 1 hr 2 min home90 m uphill coming home · 20% tree shade
- DowntownDowntown Vernon · 1.3 km15 min there, 18 min home45 m uphill coming home · 19% tree shade
- Rail trailOkanagan Rail Trail · 4.8 km1 hr there, 1 hr 2 min home100 m uphill coming home · 19% tree shade
- HospitalVernon Jubilee Hospital · 2.4 km30 min there, 32 min home60 m uphill coming home · 27% tree shade
- GolfVernon Golf Club · 2.8 km34 min there, 36 min home65 m uphill coming home · 15% tree shade
- Grocery storeSafeway · 1.8 km8 min there, 12 min home50 m uphill coming home · 21% tree shade
- CoffeeBean to Cup · 0.6 km3 min there, 7 min home35 m uphill coming home · 27% tree shade
- Elementary schoolBeairsto Elementary School · 0.9 km5 min there, 9 min home35 m uphill coming home · 31% tree shade
- Park or playgroundGirouard Park · 0.5 km3 min there, 6 min home30 m uphill coming home · 35% tree shade
- Beach / lake accessKal Beach · 5.1 km22 min there, 25 min home90 m uphill coming home · 25% tree shade
- DowntownDowntown Vernon · 1.3 km6 min there, 11 min home45 m uphill coming home · 19% tree shade
- Rail trailOkanagan Rail Trail · 5.1 km22 min there, 26 min home100 m uphill coming home · 24% tree shade
- HospitalVernon Jubilee Hospital · 2.6 km12 min there, 15 min home60 m uphill coming home · 13% tree shade
- GolfVernon Golf Club · 3.0 km13 min there, 17 min home65 m uphill coming home · 22% tree shade
- Grocery storeSafeway · 1.8 km6 min there, 7 min home50 m uphill coming home · 16% tree shade
- CoffeeBean to Cup · 0.6 km3 min there, 4 min home35 m uphill coming home · 27% tree shade
- Elementary schoolBeairsto Elementary School · 1.0 km4 min there, 5 min home40 m uphill coming home · 24% tree shade
- Park or playgroundGirouard Park · 0.5 km3 min there, 4 min home30 m uphill coming home · 35% tree shade
- Beach / lake accessKal Beach · 4.9 km15 min each way90 m uphill coming home · 20% tree shade
- DowntownDowntown Vernon · 1.3 km5 min there, 6 min home45 m uphill coming home · 19% tree shade
- Rail trailOkanagan Rail Trail · 4.8 km15 min there, 16 min home100 m uphill coming home · 19% tree shade
- HospitalVernon Jubilee Hospital · 2.5 km9 min each way60 m uphill coming home · 15% tree shade
- GolfVernon Golf Club · 2.8 km9 min there, 10 min home65 m uphill coming home · 15% tree shade
Sean Phillips’s own estimate, not part of the MLS® listing. Real routes on public map paths and roads, with the hills counted both ways, to the quickest-to-reach place of each kind. Times are averages for a relaxed pace; please check anything that matters to you. Map data © OpenStreetMap contributors. How HillSmart ratings work →
- Price
- $1,799,000
- MLS® number
- 10397602
- Property type
- Single-family home
- Living area
- 5,909 sq ft
- Lot size
- 0.49 acres
- Frontage
- 120 feet
- Parking spaces
- 8
- Community
- East Hill, Vernon
- Heating
- Radiant heat
- Parking
- Carport, Rear
- Roof
- Asphalt shingle
- Exterior
- Wood siding, Cedar Siding
- Lot features
- Private setting, Treed
- Water
- Municipal water
- Sewer
- Municipal sewage system
- Parking details
- 8 spaces in total · Carport, Rear
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.
- 2001 39 AVE: To facilitate a proposed 2 lot subdivision on the subject property, keeping the existing house and attached garage on one lot. Application
- 3211 22 ST: To obtain a Form & Character Development Permit for a 16-unit townhouse project in the Multi-Unit Small-Scale Housing zone. Application
- 3211 22 ST: To vary the following section of Zoning Bylaw 6000: a) Table 6.1 – Minimum Landscape Buffer: Reduce the required south side yard buffer from 1.5 m to 1.0 m along the drive aisle. b) Section 6.5.11 – Maximum Retaining Wall Height: Increase retaining wall height i. from 1.2 m to 2.3 m along a portion of the accessible walkway between Buildings 1 and 2. ii. from 1.2 m to between 1.7 m and 2.3 m along a portion of the accessible walkway between Buildings 1 and 2. iii. from 1.2 m to 1.8 m along the south lot line adjacent to Building 2. iv. from 1.2 m to 1.9m along the south lot line adjacent to Building 3. c) Section 7.2.8 - Grades: Increase the maximum drive aisle grade from 8% to 12% for the drive aisle accessing the lane. 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 Business Finders Canada through the REALTOR.ca DDF®. It is deemed reliable but not guaranteed accurate and should be independently verified. Last updated 2026-10-15.