Shuswap And 1st Street Southeast,Salmon Arm, BC V1E4H8
Salmon Arm, BC V1E4H8
Description
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:13843)
Details
| MLS # | 10384025 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 182 |
| Listing Provided By | Royal LePage Access Real Estate | Jeremy Osborne |
Features
| SQ Feet | 9,400 |
|---|---|
| Car Port | Yes |
| Basement | Y |
| Acreage | 1.22 |
Interior
| Heating | Baseboard heaters |
|---|---|
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt shingle, Unknown |
|---|
Parking
| Parking Features | Carport |
|---|
Utilities
| Sewer | Municipal sewage system |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 16680 |
|---|
Area Information
| Province | BC |
|---|---|
| City | Salmon Arm |
| Postal Code | V1E4H8 |
| Listing VS Median (in V1E4H8) | |
Price: $2,590,000 low | high Med: $1,295,008 sqft: 9,400 low | high Med: 5,654 $ / sqft: $276 low | high Med: $138 On site: 182 low | high Med: 217.5 | |
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Learn More About This Property
| Province | BC |
|---|---|
| City | Salmon Arm |
| Postal Code | V1E4H8 |
| Listing VS Median (in V1E4H8) | |
Price: $2,590,000 low | high Med: $1,295,008 sqft: 9,400 low | high Med: 5,654 $ / sqft: $276 low | high Med: $138 On site: 182 low | high Med: 217.5 | |