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. 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:4069)
Address
350, 380, 351, 381 Shuswap and 1st Street SE
List Price
$2,995,000
Property Type
Multi-family
Style of Home
Bungalow
Transaction Type
Sale
Area
British Columbia
Sub-Area
Salmon Arm
Floor Area
9,400 Sq. Ft.
Lot Size
1.22 Ac.
MLS® Number
10384025
Listing Brokerage
Royal LePage Access Real Estate
Basement Area
Crawl space, Full
Postal Code
V1E4H8
Site Influences
Public Transit, Shopping
