Investment Overview

The McEvay Blair Multifamily Group of Marcus & Millichap and Connor Shelton of REMAX are pleased to introduce a 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. Ideally located within walking distance of Vernon Jubilee Hospital, the property is positioned in one of the city’s strongest rental nodes, ensuring consistent demand from healthcare professionals and long-term tenants. Residents enjoy proximity to downtown Vernon, shopping, schools, and everyday amenities, while on-site features include 6 owned coin-operated laundry machines and 37 parking stalls (14 covered, 23 surface). Select suite renovations along with balcony upgrades completed to date demonstrate the ability to further enhance rents, while the asset already offers a strong going-in cap rate. With its scale, strong location, and operational infrastructure, the property comfortably supports a full professional management platform for new ownership.