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FIND OUT MORE ABOUT 2003 37 AVENUE, VERNON BRITISH COLUMBIA V1T2W9 (MLS® #10400204)
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+5 more
2003 37 Avenue, Vernon, British Columbia
$1,799,900
5,909
Square feet
0.4900
Acres
About 2003 37 Avenue
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 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. (id:66920)
Key Features
Private setting
Treed
Family Oriented
Rentals Allowed
Security system
Smoke Detector Only
City view
Lake view
Mountain view
Carport
Rear
Radiant heat
See remarks
Multi-Family
Open House
Sat, May 30th, 2026 @ 2pm - 4pm
No RSVP required. Drop in anytime during the open house window.
Listing courtesy of Association of Interior REALTORS®.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by
The Canadian Real Estate Association (CREA) and identify real estate professionals who
are members of CREA. Data is deemed reliable but is not guaranteed accurate by CREA.
