About this property
This is a rare opportunity to acquire a superbly well managed and maintained rental complex; Dionne Apartments. Conveniently located near the heart of downtown; this offering is comprised of a 3 storey – 17 unit apartment building, a detached 2 bedroom house and ample surface parking all on a large 0.51 acre lot. Dionne Apartments has seen ongoing capital improvements throughout the years and shows like the day it was built. Situated in the beautiful lakeside community of Salmon Arm; who’s rental market has become competitive in recent years, and is currently experiencing very low vacancy rates (1.8% as per 2019 CMHC records). Combine this with rising rents, a strong local economy, and a growing population, the complex offers investors a current stable cash flow with revenue upside upon tenant turnover. As an added bonus; there may be an opportunity to development and increase density where the current house resides.