For Sale · Land

7000 Apollo Road, Vernon

7000 Apollo Road, Vernon, BC V1H1J2

$5.3M total

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Asset Class

Land

Size

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Building class

B

Zoning

DC2 — Site Specific

$ / SF

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Occupancy

85%

Lot Size

2.27 ac

About this property

Exceptional 2.27-acre residential development opportunity in Okanagan Landing, Vernon. The property features a proposed 40-dwelling residential development designed as a modern, master-planned community offering a diversified mix of duplex, walk-out duplex, and stacked triplex-style buildings. The proposed development is designed as a building-strata project, creating the potential for individual residential units to be separately titled and sold upon completion, subject to final municipal approvals, subdivision/strata registration, and all applicable requirements. A significant amount of preliminary planning has already been completed. The current architectural and Development Permit package provides a valuable head start for a purchaser and includes site planning, architectural concepts, floor plans, elevations, building forms, exterior material concepts, landscaping concepts, and development rationale. The proposed housing mix is designed to appeal to a broad range of future purchasers, including families, downsizers, investors, and end users. A compelling opportunity for a builder or developer seeking a substantial residential project on 2.27 acres in Okanagan Landing, with much of the initial design and planning work already advanced. (id:66811)

Financial sandbox

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Estimate
Purchase price$5.25M
Down payment30% · $1.57M
Interest rate6.25%
Amortization25 years
Occupancy85%
Expense growth2.5%

Monthly debt service

$24K

Projected NOI

$228K

Annual cash flow

$-63K

Cash-on-cash

-4.00%

DSCR

0.78

Going-in cap

4.34%

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

55,987

Households

19,348

Median income

$125,500

Median age

37.4

Daytime population

55,037

5-yr growth

6.6%

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

Secure deal room

Confidential diligence documents for 7000 Apollo Road, 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.