SOLD | Rare 21-Unit Apartment Complex in Vernon

The subject property consists of three, one-storey buildings, totaling 21 one-bedroom units, ranging between 550 SF and 800 SF, on a 1.09-acre lot. Originally built in 1957, the western and northern buildings initially served as a motel, however, in the 1990’s, the property was converted into rental housing which included the new construction of the eastern building.

Pioneer Villa offers approximately 150-feet of prime frontage and is conveniently located within Vernon’s City Centre. As rental rates and property values continue to rise in neighbouring Kelowna, Vernon has become a preferred location for investors and residents alike due to its affordability, serene ambiance, diverse range of amenities and flourishing City Centre. The area’s stunning natural attractions, coupled with a resurgence of new development has attracted a preferred mix of tenants and reinforced local businesses and service providers, resulting in an economically diverse community and renewed vibrancy throughout the City.