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$1,799,000
British Columbia,Vernon
For Sale Active
2003 37 Avenue, Vernon, British Columbia V1T2W9
  • 5,909 Sqft
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Basic Details
Description

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 $124, 030.20 or $10, 335.85 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:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: 10387848
  • Price: $1,799,000
  • View: City view, Lake view, Mountain view
  • Square Footage: 5,909 Sqft
  • Year Built: 1910
  • Status: Active
  • Property Attached Yn: 1
  • Property Sub Type: Multi-family
  • Roof:
  • Office Key: 274492
Features & Appliances
Features
  • Heating System: Radiant heat, See remarks
  • Parking: Rear, Carport
  • Architectural Style: Multi-level
  • Exterior Features: Wood siding, Cedar Siding
  • Flooring: Carpeted, Wood, Mixed Flooring
  • Sewer: Municipal sewage system
Address Map
  • Location: CA, British Columbia, Vernon, V1T2W9
  • Street: 37
  • Street Number: 2003
  • Street Suffix: Avenue
  • Longitude: W120° 44' 28''
  • Latitude: N50° 16' 8.6''
Additional Information
  • Water Source:
  • Community Features:
  • Lot Features:
  • Lot Size Dimensions: 0.49
  • Stories: 1.5
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Listing updated: 2026-06-19 19:49:49
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Listing Information
  • List Agent Key: 1982888
  • List Office Key: 274492
  • Modification Timestamp: 2026-05-29T11:55:49Z
  • Originating System Name: Association of Interior REALTORS®
  • Status Change Timestamp: 2026-05-29T11:49:02Z
Powered by REALTOR.ca
Listing updated: 2026-06-19 19:49:49
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