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For Sale

Valley View Apartments

  • $9,630,000

Salient Details

  • Units 49
  • Suite Mix 6-Bachelor, 22-One Bedroom, 21- Two Bedroom
  • Lot Size 33,830 sf (225’ x 150’)
  • Year Built 1973
  • Net Income $505,265
  • Cap Rate 5.25%

Valley View Apartments

A well-situated 49 unit apartment building located in the growing city of Vernon, with a strong going-in cap rate and potential for adding value by increasing rents on turn-over
1604 31 Street - Brochure
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Valley VIew Apartments - 1604 31 Street

Investment Highlights

Rare Asset of Scale with Strong Going-In Yield
A 49-suite apartment building offering immediate cash flow at a strong going-in cap rate, with sufficient scale to justify full professional property management.
Significant Capital Improvements Mitigating Near-Term Risk
Ownership has completed meaningful upgrades, including a torch-on roof (2019), new hydraulic elevator system and cab control panel (2020), and a modern IBC on-demand hot water and heating system, supporting long-term durability and reduced capital exposure.
Demonstrated Upside Through Proven Renovation Program
Select suite renovations and balcony upgrades have established a clear, repeatable path to rental growth, allowing an incoming investor to systematically increase revenues while maintaining operational stability.
Exceptional Location Supporting Durable Rental Demand
Ideally positioned within walking distance of Vernon Jubilee Hospital and close to downtown Vernon, shopping, schools, and amenities— placing the property in a prime rental node attractive to healthcare professionals and longterm tenants alike.

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Contact us

James Blair

Managing Director

Personal Real Estate Corporation

(604) 790 7089

James.Blair@marcusmillichap.com

Email James

Patrick McEvay

Managing Director

Personal Real Estate Corporation

(604) 789 0720

Patrick.McEvay@marcusmillichap.com

Email Patrick

Adam Herman

Director

Personal Real Estate Corporation

(604) 652 3016

Adam.Herman@marcusmillichap.com

Email Adam

Suvarna Sunil

Associate Director

(778) 772 5133
Sunil.Suvarna@marcusmillichap.com

Email Sunil

Patrick Ferrie

Associate

(250) 793 3498
Patrick.ferrie@marcusmillichap.com
Email Patrick