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

SE Salmon Arm Salmon Arm V1E 4H8

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. Ages of the buildings range from 1910-1960 and consist of 15 2 bedroom apartments and 1 1 bedroom apartment, ranging in size from 450 square feet to 850 square feet. There is 1 2 story home with 4 units, 2 1 level with 4 units on a crawl spaces and another 1 level on a full basement that houses 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:2493)