$2,590,000

350, 380, 351, 381 Shuswap and 1st Street SE, Salmon Arm

SE Salmon Arm, Salmon Arm, BC V1E4H8

9,400 sq ft · Commercial

Listed by Royal LePage Access Real Estate · Jeremy Osborne

About this property

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:67417)

Property details

Price

$2,590,000

MLS® number

10384025

Property type

Commercial · Multi-Family · Multi-family

Ownership

Freehold

Living area

9,400 sq ft

Lot size

1.22 acres · 1.22

Annual taxes

$16,680

Community

SE Salmon Arm, Salmon Arm

Features

Style

Bungalow

Basement

Full, Crawl space

Heating

Baseboard heaters

Parking

Carport

Roof

Asphalt shingle, Unknown

Exterior

Stucco, Cedar Siding

Water

Municipal water

Sewer

Municipal sewage system

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