350, 380, 351, 381 Shuswap And 1st Street SE

9,400 sqft

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:67517)

• Property Details

  MLS® Number	10384025
  Property Type	Multi-family
  Neigbourhood	SE Salmon Arm
  AmenitiesNearBy	Public Transit, Shopping

• Building

  ArchitecturalStyle	Bungalow
  BasementType	Crawl Space, Full
  ExteriorFinish	Cedar Siding, Stucco
  HeatingType	Baseboard Heaters
  RoofMaterial	Asphalt Shingle
  RoofStyle	Unknown
  StoriesTotal	1
  SizeInterior	9,400 Sqft
  Type	Multi-family
  UtilityWater	Municipal Water

  Carport

• Land

  AccessType	Easy Access
  Acreage	Yes
  LandAmenities	Public Transit, Shopping
  Sewer	Municipal Sewage System
  SizeIrregular	1.22
  SizeTotal	1.22 Ac|1 - 5 Acres
  SizeTotalText	1.22 Ac|1 - 5 Acres

• Rooms
• Utilities