180-270 7 St SE - Apartments FOR SALE


Salmon Arm, BC V1E 4G8
$2,200,000 CAD
778-998-4663
180-270 7 St SE, Salmon Arm, BC for Sale
$2,200,000 CAD
Apartments - FOR SALE
1/11
null | 4.8% Cap Rate

180-270 7 St SE
Salmon Arm, BC V1E 4G8


HIGHLIGHTS

  • Low regional CMHC vacancy rate of 0.9%
  • Current rents are well below market, providing a great upside opportunity upon tenant turnover
  • Close to Shopping, Parks and Recreation
  • Development potential for 4 units upon subdivision of large 0.57 Acre lot

OVERVIEW

Located on two separate titles, this 8-unit townhouse complex offers an exceptional investment opportunity in the highly sought-after community of Salmon Arm. Each unit contains a spacious 3-bedroom, 1.5-bath layout, providing ample living space for tenants. Built in 1970 and situated on just over half an acre of land, the property features unfinished basements, presenting potential for future value-add opportunities. The property offers a massive 55% upside on rents upon tenant turnover, with near 0% vacancy rates, allowing for significant income growth. With development potential for an additional 4 units, there is plenty of room for expansion to further maximize the property’s value. Conveniently located near parks, shopping, and recreational areas, this property is positioned in an area with consistent demand and growth. Don’t miss out on this rare opportunity to secure a high-demand asset with significant rental upside and future development potential.

FOR SALE DETAILS

PRICE

$2,200,000 CAD

PRICE/SF

$229 CAD /SF

# OF UNITS

8

PRICE/UNIT

$275,000

CAP RATE

4.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

180 & 270 7th Street SE Townhomes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,223 SF

ZONING

R-14

APN/PARCEL ID

006372392,008932310

ASK ABOUT THIS PROPERTY

Chris HayneRoyal LePage City CentreMore Info
778-998-4663

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Chris HayneRoyal LePage City CentreMore Info
778-998-4663

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.