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Multifamily

Valley View Apartments

1604 31 Street, Vernon, BC V1T 5G8

Listing Price: $8,700,000

Cap Rate
4.67%
Number of Units
49
Price/Unit
$177,551
Price/Gross SF
$213.09
Gross SF
40,827

Investment Overview

A well-situated 49 unit apartment building in the growing Okanagan city of Vernon, centrally located with close proximity to shopping, schools, Vernon Jubilee Hospital, and amenities throughout downtown Vernon. Built in 1973, Valley View Apartments has been well maintained by current ownership and has benefited from a consistent capital expenditure schedule. Recent upgrades include a new torch-on roof (2019), new hydraulic elevator system including cab control panel (2020), and a newer IBC on-demand hot water and heating system. Further work includes upgrades to balconies, some new double-pane windows, and full renovations to some suites, including dishwashers.

Investment Highlights

  • A well-situated 49 unit apartment building in the growing Okanagan city of Vernon
  • Well maintained by current ownership and has benefited from a consistent capital expenditure schedule
  • A rare asset of scale offered in the Okanagan allows an owner to be "hands-off"

Exclusively Listed By

Multifamily

Valley View Apartments

Listing Price: $8,700,000

Cap Rate
4.67%
Number of Units
49
Price/Unit
$177,551
Price/Gross SF
$213.09
Gross SF
40,827

Investment Highlights

  • A well-situated 49 unit apartment building in the growing Okanagan city of Vernon
  • Well maintained by current ownership and has benefited from a consistent capital expenditure schedule
  • A rare asset of scale offered in the Okanagan allows an owner to be "hands-off"

Investment Overview

A well-situated 49 unit apartment building in the growing Okanagan city of Vernon, centrally located with close proximity to shopping, schools, Vernon Jubilee Hospital, and amenities throughout downtown Vernon. Built in 1973, Valley View Apartments has been well maintained by current ownership and has benefited from a consistent capital expenditure schedule. Recent upgrades include a new torch-on roof (2019), new hydraulic elevator system including cab control panel (2020), and a newer IBC on-demand hot water and heating system. Further work includes upgrades to balconies, some new double-pane windows, and full renovations to some suites, including dishwashers.

Exclusively Listed By

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