For Sale · Hospitality

7501 Kennedy Lane, Vernon

7501 Kennedy Lane, Vernon, BC V1H1C4

$1.2M total

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Asset Class

Hospitality

Size

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Building class

B

Zoning

CHY — Highway Corridor

$ / SF

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Occupancy

97%

Lot Size

0.3 ac

About this property

Rare Okanagan Lakefront Building Opportunity! Discover the possibilities at 7501 Kennedy Lane, a beautifully positioned, approximately 0.30-acre waterfront property in Vernon's desirable Bella Vista neighbourhood. Tucked away at the end of a private lane, this relatively level, surveyed lot offers approximately 60 feet of lake frontage, breathtaking lake views and sought-after southern exposure. Imagine designing your dream lakeside retreat, with a rancher-style home and daylight basement perfectly suited to the setting. For those looking beyond a single residence, the property's MUS zoning offers exciting possibilities for multi-unit housing, including the potential for a family-owned triplex or multi-generational living. Short-term rental accommodation may also be possible, subject to applicable regulations and approvals. With City services available at the lot line, this property provides an exceptional opportunity to create something truly special on the shores of Okanagan Lake. Whether you're envisioning a private waterfront home or exploring a multi-unit development, 7501 Kennedy Lane offers the location, exposure and flexibility to bring your vision to life. Buyers to verify development possibilities with the City of Vernon. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.25M
Down payment30% · $375K
Interest rate6.25%
Amortization25 years
Occupancy97%
Expense growth2.5%

Monthly debt service

$6K

Projected NOI

$91K

Annual cash flow

$22K

Cash-on-cash

5.90%

DSCR

1.32

Going-in cap

7.31%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

84,462

Households

39,122

Median income

$134,500

Median age

36.7

Daytime population

101,174

5-yr growth

1%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 7501 Kennedy Lane, Vernon.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.