1604 31 St - Apartments FOR SALE


Vernon, BC V1T 5G8
$9,630,000 CAD
604-790-7089
1604 31 St, Vernon, BC for Sale
$9,630,000 CAD
Apartments - FOR SALE
1/7
null | 5.25% Cap Rate

1604 31 St
Vernon, BC V1T 5G8


HIGHLIGHTS

  • 49-suite apartment property delivering immediate cash flow with scale to support professional management.
  • Recent upgrades include a torch-on roof (2019), new hydraulic elevator system (2020), and modern IBC on-demand heating and hot water system.
  • Renovated suites and balcony improvements provide a proven strategy for rental growth and revenue enhancement.
  • Prime location near Vernon Jubilee Hospital, downtown Vernon, shopping, and schools, attracting healthcare professionals and long-term tenants.

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.

FOR SALE DETAILS

PRICE

$9,630,000 CAD

PRICE/SF

$285 CAD /SF

# OF UNITS

49

PRICE/UNIT

$196,531

CAP RATE

5.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Valley View Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

James BlairMarcus & MillichapMore Info
604-790-7089

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James BlairMarcus & MillichapMore Info
604-790-7089

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.