Vernon · V1T2W9
$8,996/mo
Jessica Kuan
Licensed Mortgage Broker
Estimate only. Rates and qualification depend on your application.
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Rare re-development acquisition opportunity for just under half an acre of multifamily zoned residential development land. New architect renderings for three (3) new development options for townhomes and multifamily apartments with expansive city & lake views. One of the few redevelopment sites ever offered on the East Hill in Vernon. Excellent location, close to town, this rectangular 120 by 182-foot, 0.49-acre, 21,344 SF site with 117 ft of frontage and multiple rear laneway access points. The Lands come improved with a 5,909 square foot, 2-storey, multifamily conversion apartment building that produces good holding income with a suite mix of Five (5) 1-bedroom suites and five (5) studios. The building produces an annual gross income of $124,030.20 or $10,335.85 monthly with more near-term tenant turnovers anticipated to create significant rental increases. The new MUS - Multi-unit: Small Scale zoning allows for a range of small-scale housing development up to 3 Storeys in Height, including detached, attached, and multi-unit housing on lots under 4,050 square meters (1 acre) Zoning permits up to 24 Dwelling Units per acre which makes the site suitable for 12 Strata Title Units. Property not in Heritage Registry. Foundation is poured concrete encased rock, interior finishes include painted wood panel with wainscot/chair railed areas and a mix of carpet, vinyl, laminate, hardwood & tile flooring. Don't miss this rare opportunity to secure a solid income producing asset with excellent redevelopment potential.
5,909 ft²
Floor area
Other
Type
East Hill
Area
Listed
August 12, 2026
Nearby & Commute
22 min
walk to Safeway
3h 32m
bike to Orchard Park Exchange
11h 44m
walk to Orchard Park Exchange
11h 55m
drive to downtown Vancouver
Estimated travel times. Map data © OpenStreetMap contributors.
Most listed
Detached · 35%
| Detached | 95 | 34.7% |
| Townhouse | 59 | 21.5% |
| Condo / Apartment | 41 | 15.0% |
| Land | 30 | 10.9% |
| Other | 24 | 8.8% |
| Other | 25 | 9.1% |
| $20,000 to $24,999 | 10 | 4.8% |
| $25,000 to $29,999 | 10 | 4.8% |
| $30,000 to $34,999 | 10 | 4.8% |
| $35,000 to $39,999 | 15 | 7.1% |
| $40,000 to $44,999 | 5 | 2.4% |
| $45,000 to $49,999 | 10 | 4.8% |
| $50,000 to $59,999 | 15 | 7.1% |
| $60,000 to $69,999 | 10 | 4.8% |
| $70,000 to $79,999 | 15 | 7.1% |
| $80,000 to $89,999 | 15 | 7.1% |
| $90,000 to $99,999 | 15 | 7.1% |
| $100,000 to $124,999 | 35 | 16.7% |
| $125,000 to $149,999 | 15 | 7.1% |
| $150,000 to $199,999 | 20 | 9.5% |
| $200,000 and over | 10 | 4.8% |
A clearer view of the monthly and upfront costs connected to this home.
Monthly ownership costs
Estimated monthly total
Calculated estimate
$8,996
Principal and interest
Calculated estimate
$8,321
Property tax
Calculated estimate
$525/mo
Home insurance
Assumption
$150/mo
Purchase snapshot
List price
Listing data
$1,799,000
Down payment
Calculated estimate
$359,800 (20%)
Estimated mortgage
Calculated estimate
$1,439,200
Estimates update with the mortgage controls below. They do not include utilities, maintenance, legal fees, or other closing costs.
Mortgage estimate
Metro averages
Est. monthly total
$8,996
/mo
Rate
%
Amortization
Principal and interest
$8,321
Property tax (est.)
$525
P&I
Tax
Down payment
$359,800 (20%)
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Jessica specialises in residential financing across Greater Vancouver, helping buyers secure competitive rates and navigate complex purchases with clarity.
Jessica Kuan
Licensed Mortgage Broker
This is an estimate only and does not constitute financial advice or a mortgage offer. Based on $359,800 down (20%) on $1,799,000, Canadian semi-annual compounding. Property tax estimated at Greater Vancouver metro average. No strata fee on record for this listing. Home insurance, land transfer tax, and closing costs are not included. Consult a licensed mortgage professional for personalised advice. Mortgage professionals featured here are independent licensed brokers. Ray Rasouli may receive a referral fee if you choose to work with one. You are under no obligation to use any recommended provider. Full disclosure.
Daily mean across the year.
On the drier side for BC.
Averaged from the last ten complete years of Environment Canada observations at the nearest principal station, so it reflects the climate as it is now rather than a thirty year normal.
Variable mortgages are quoted against this.
Fixed mortgage pricing follows this.
Set by the Bank of Canada.
These are benchmark rates, not mortgage quotes. Your rate depends on the lender, the term, and your file.
At 5.5698 per $1,000 of assessed value.
Estimated by applying the municipal rate to the asking price. Your actual bill is based on the BC Assessment value, which is set separately and usually differs from the sale price. Home owner grants are not included.
In a mapped wildland-urban interface zone. Affects insurance and FireSmart requirements.
Based on where this point falls in provincial map layers, not a site survey or a formal hazard assessment. Confirm with the municipality, a professional, and your insurer before relying on it.
