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| 350, 380, 351, 381 Shuswap and 1st Street SE Salmon Arm V1E4H8 |
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| Price : $2,590,000 |
Listing ID : 10384025
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| Property Type : Multi-family |
Building Type : Multi-Family |
| Title : Freehold |
Finished Area : 9400 sqft |
| Built in : - |
Total Parking Spaces : - |
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This 1.22 acre assembly represents current investment revenue for immediate cash flow, coupled with the possibility of future development to high density. Situated in walkable location, in close proximity shopping centers and downtown Salmon Arm. The site currently consists of four lots under four separate titles, featuring a total of 16 rental units organized into four well-maintained fourplexes. These units are occupied by stable, long-term tenants on month-to-month agreements, providing a reliable revenue stream, currently providing an estimated 5.5% Cap Rate. The makeup consists of 15 two bedroom apartments and 1 one bedroom apartment, ranging in size from 450 square feet to 850 square feet. There is 1 two story home with 4 units, two one level with 4 units on crawl spaces and another one level on a full basement. The full basement has a shop space, storage and a shared laundry for the tenants providing another source of revenue. Designated parking and easy access for all tenants. The future potential of the combining of the lots and rezoning to a higher density is part of the Official Community Plan for Salmon Arm and lends itself to many different options to find the right project. (id:56537)
Call (250)-864-7337 for showing information. |
| Details |
| Amenities Nearby : Public Transit, Shopping |
Access : Easy access |
Appliances Inc : - |
| Community Features : - |
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Structures : - |
| Total Parking Spaces : - |
View : - |
Waterfront : - |
| Zoning Type : - |
| Building |
| Architecture Style : Bungalow |
Bathrooms (Partial) : 0 |
Cooling : - |
| Fire Protection : - |
Fireplace Fuel : - |
Fireplace Type : - |
| Floor Space : - |
Flooring : - |
Foundation Type : - |
| Heating Fuel : - |
Heating Type : Baseboard heaters |
Roof Style : Unknown |
| Roofing Material : Asphalt shingle |
Sewer : Municipal sewage system |
Utility Water : Municipal water |
| Basement |
| Type : Crawl space, Full |
Development : - |
Features : - |
| Land |
| Landscape Features : - |
| Rooms |
| Level : |
Type : |
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approximate.MLS®, Multiple Listing Service®, and all related graphics are trademarks of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and all related graphics are trademarks of REALTOR® Canada Inc. a corporation owned by The Canadian Real Estate
Association and the National Association of REALTORS® .Copyright © 2023 Don Rae REALTOR® Not intended to solicit properties currently
under contract.
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