About This Property
RARE HIGH-CASH-FLOW OPPORTUNITY WITH DEVELOPMENT UPSIDE (<1km to Kin Beach) 6699 Scott Road presents a compelling ""covered land play"" offering strong in-place income with future redevelopment potential. This 0.32-acre (1,295 m²) property is currently configured with multiple self-contained living areas and generates approximately $75,338/year in gross income. Property is fully tenanted with tenants contributing to utilities. Buyer to verify all financials and tenancy arrangements. Zoned MUS (Multi-Unit Small Scale), the property supports a range of small-scale multi-unit housing forms. Based on current density allowances (up to 60 units per hectare), preliminary analysis suggests potential for approximately 6–7 units, subject to City approvals. City-based documentation indicates sanitary sewer capacity for a potential 7-unit development based on current modeling. Buyers to verify servicing requirements, elevations, and development feasibility with the City. Ideally located in Vernon, within close proximity to Okanagan Landing and less than 1km to Kin Beach, offering strong appeal for both investors and future residents. Investor package including rent roll, pro forma, zoning summary, and servicing information available upon request. (id:64973)
The $425 per square foot price point for this Vernon property is competitive compared to the city's $388 average, making it a compelling value proposition. This multi-unit investment opportunity is well-suited for savvy real estate investors seeking a high-cash-flow asset with future redevelopment potential near the desirable Kin Beach area.
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