J.S. Colton-Fox Building

3222-3224 30th Ave, Vernon, BC

Participate in the ownership of a two-storey, heritage-designated building with 5 residential and 4 commercial units in Vernon, BC.

The Plan: Enhance the worth of the residential units through light cosmetic improvements and minor renovations to bring them up to market value while supporting the stability of strong commercial tenants.

Get me a membership

*The key numbers to explain how we make this estimate are available within your addy account. Investments in this property are restricted to British Columbia, Alberta, Quebec and Ontario residents. Qualified members can invest from $1 and up to $1,500.

**This is the day when we issue a distribution, or the property exits — aka cash earned from doing zero things, aka #passiveincome. For this property, there is predicated to be 20+ Owners’ Days.

Estimated Returns 💸

The information presented above represents expected results of a $550,000 maximum offering (subject to increase as the Issuer may from time to time determine) and may not reflect actual results. The expected return (IRR and ROI) based on your investment amount can fluctuate up or down based on many factors. Please review the entirety of the Offering Memorandum and understand the risks stated in “Item 9 – Risks Factors”. You are not liable beyond your investment amount.

Meet the Tenants 👥

addy visits Vernon to share with the community how the real estate crowdfunding platform works and answer any questions about addy. Steve Jagger, co-founder of addy, hosted a meetup at Local Losers in Vernon BC.

Learn about a creative space called Local Losers in the J.S. Colton-Fox Building in Vernon, BC. Local Losers owner, Noah MacLeod, tells the story behind the name and explains what happens in the space.

Meet Samosa Joes at the J.S. Colton-Fox Building in Vernon, BC. Samosa Joes owner, Joe Patel, shares their business journey and explains why people from across the Okanagan love their samosas.

The Reel 🎥

What are some of the pros and cons for the new addy property in Vernon, BC? Asa of the addy squad highlights some of the things to consider when thinking about investing in the J.S Colton-Fox Building.

Introducing the J.S. Colton-Fox building in Vernon, BC. This video goes over the plan and other details regarding this addy. It also highlights the rich history of the building and its importance in the Vernon community.

Spread of Investors 🇨🇦

the gram 📷

the highlights ✨

  • Two-storey mixed use building on the corner of 30th St. and 33rd St. in downtown Vernon.
  • High-profile area with lots of foot traffic.
  • Commercial tenants include: Dorian’s Greek Taverna, a popular family restaurant with entrance at the corner of the building.
  • Commercial tenants include: Local Losers, an art supply story and gallery.
  • Commercial tenants include: Samosa Joes, which claims the distinction of being Okanagan’s’ first exclusive Samosa bakery.
  • Commercial tenants include: Dean’s Tailor Shop, established in 1991.
  • Known as the J.S. Colton-Fox Building after the businessman that had it built.
  • Built in 1904. Heritage designation from the city of Vernon.
  • Features a hip roofed classic box design with decorative diamond shingles in the corner gable.
  • Rare wooden-structure in downtown Vernon.
  • Originally housed a drugstore called R.E. Berry Drugs.
  • Welcomed many commercial tenants in its 100+ year history, including grocers, a barber shop, a pool hall and a leather shop.

 

WHY WE LIKE THIS PROPERTY 👍

About Neightbourhood

  • Located in lively downtown Vernon, part of the Regional District of North Okanagan in the southern interior of B.C.
  • City hosts an annual Winter Carnival – celebrated its 62nd year in February, 2022.
  • Downtown Vernon features 52 restaurants, 250 retail and service shops, 3 art galleries and 4 parks.
  • Surrounded by three lakes; Okanagan, Kalamalka and Swan in British Columbia’s Okanagan Valley, one of the most desirable regions in Canada in which to live.
  • The community is located approximately 4 1/2 hours by car from Vancouver and the Pacific Ocean, and 3 hours north of the US border at Washington State.
  • Vernon is the hub of the North Okanagan and has a population of over 43,000. Vernon is surrounded by several small communities including Coldstream, Armstrong, Spallumcheen, Enderby and Lumby.
  • Within an hour from over 100 lakes lined with beaches and trails.

About Okanagan Region

  • Region includes popular destinations including Vernon, Kelowna, Kamloops and Pentiction
  • The Okanagan Valley has something for everyone: hoodoos, orchards, vineyards, mountains, valleys, lakes, highlands, ski slopes, and trails.
  • Welcomes those who want to hike, mountain bike, swim, sail, surf, ski, snowboard and snowshoe.
  • The Okanagan Valley is a top British Columbia wine region producing award-winning vintages.

Location 📍

Click here to view location on Google Maps

About Province Residential Market

  • The British Columbia Real Estate Association (BCREA) reports that a record 124,854 residential unit sales were recorded by the Multiple Listing Service in 2021, a 32.8% increase from the 94,001 units sold in 2020.
  • The annual average MLS residential price in BC was $927,877, an 18.7% increase from $781,572 recorded the previous year.
  • Total sales dollar volume was $115.8 billion, a 57.7% increase from 2020.
  • The average price in three of the largest markets in the province were over $1 million in December.
  • Average sold price in January 2022: $1,040,888. Up 23.3% from January 2021.
  • Property values in Vancouver continue to drive up the average prices across B.C. The benchmark Vancouver home price for January 2022 was $1,255,200, an 18.5% increase year-over-year.

About Province Tourism

  • The region and BC as a whole welcome tourists across all seasons for cultural events and recreation and sporting activities.
  • Winter To-Dos include skiing, snowboarding, snowshoeing and hiking.
  • Summer To-Dos include sailing, swimming, hiking, mountain biking.
  • Tourism employs about 46,400 people in BC.
  • Over 19,690 tourism businesses operate in BC.
  • Most tourism businesses are locally-owned small and medium enterprises that directly contribute to the local community economy.
  • Vancouver Island (16%) and Thompson-Okanagan (13%) have the largest number of businesses outside the Lower Mainland.

General Partner Type 🤝

GP Types - OG

OG

These General Partners have 10+ years of experience and/or have owned and operated real estate in excess of $80M+ in asset value. These partners are seasoned in the industry and have a track record of successfully managing large-scale real estate projects (Learn more).

Meet The General Partner 👋

RMG is an experienced GP with experience in developing multiple industrial, office and residential properties across Canada

The Investment Type 💰

Value-Add Opportunistic Investment Type

Value-Add

Risk profile: 

Moderate to high

Investor type:

For investors willing to take on more risk to achieve high returns and are willing to wait longer before they begin receiving returns for their investment.

What defines the risk level?  

A Value-Add investment often has little to no cash flow at acquisition but has the potential to produce a tremendous amount of cash flow once the value has been added (for example physical upgrades, better management, added services or more effective marketing).

What our members are saying 📣

“It was an easy way to invest some funds in real estate that I would normally not be able to afford on my own. It’s great to be part of something that is creating a new way of investing.”

Klaus / Toronto, ON

“My wife and I are excited to have discovered addy, and invested in a Starbucks location nearby — it’s nice to be able to participate in owning commercial real estate without putting up a bunch of money, and knowing we can drive by it anytime makes it more fun than buying stocks!” 

Shawn / Nanaimo, BC

“This is God sent, if you ask me. A chance to own a slice of commercial properties all over the country. An opportunity I otherwise wouldn’t have had had it not been for addy. I can’t thank addy enough. I eagerly await for addys to drop and with each investment, I know I’m actively improving my financial future.”

Jocelyn Armah / Google Review

What our members are saying on Discord 📣

“addy is a great platform that allows individuals to break through into the real estate market without having to deal with lawyers, agents, and most of all the rising housing prices. Most importantly, the addy discord provides a great platform for a diverse community to discuss ideas as it relates to real estate and other financial related topics. I have already learned a lot from the conversations and discussions from the Discord to make better informed investing decisions for my future”

$nitintailor / Toronto, ON

“addy has let me get into a market I never thought I could be in! The community in Discord allows me to be connected to others, receive tips and have fun while making investments right for me! Thank you addy!”

$Wanderlust / Vancouver, BC

“Before breakfast and I already bought into a commercial building in Hamilton. No running around looking at buildings or doing due diligence. No extra costs. No trips to the lawyers. This is the world’s easiest way to buy real estate.”

$Cameron / Abbotsford, BC

How Do You Make Money?

You can make money in 2 ways:

  1. Sale of the Property: When the property is sold, any appreciation is paid back to investors in addition to their investment principal.
  2. Rental Income: When tenants pay rent, additional cash flow can be passed back to investors in the form of a distribution.

Details are outlined in the Offering Memorandum for each property.

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