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Legal suite

$349,900

1060 16 Avenue SE

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Beds

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Baths

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Sqft

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Year

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Type

Vacant Land

Suite

Legal suite

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Salmon Arm. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

""Rare opportunity - one of the largest lake-view lots in Salmon Arm's sought-after Sunset Ridge neighbourhood. This exceptional 0.34-acre south-facing lot at 1060 16 Ave SE is positioned on the uphill side of the street, capturing panoramic views of Shuswap Lake and surrounding mountains. The hard work is done: the lot is professionally cleared, graded, surveyed, with electrical power connection on site and all city services - water, sewer, and storm - installed at the property line ($20,000+ in added value). Zoned R-10 for outstanding flexibility: build a custom home with or without a legal suite, add a detached coach house or shop, or create a duplex setup for multi-generational living or strong rental income. Permit-ready architectural drawings for a single-family home with garage are included, along with survey, topographic plans & cogo file. Additional design work for a home with legal suite and detached coach house is approximately 75% complete and can be transferred to the buyer - all featuring lake and mountain views. No need to start from scratch. Located just minutes from downtown Salmon Arm, schools, shopping, and recreation - this is one of the last remaining large lake-view lots in a sought-after neighbourhood. Don't just buy a lot - buy a head start. Your Shuswap dream home starts here."" (id:65958)

Subtype: Vacant Land
Structure: Other
Community: SE Salmon Arm
Common interest: Freehold
Lot size: 0.34 acres
Lot dimensions: 0.34
On market: Mar 23, 2026
Status changed: Apr 21, 2026
Annual tax: $2,436
Photos: 20
MLS#: 10380032
Area: SALMON_ARM

Features and systems

View

Lake viewMountain viewView of waterView (panoramic)

Utilities

WaterElectricity

Positive cash flow ~$184/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

3.15%

Cap rate

5.50%

GRM

12.1

Break-even rent

$2,206

Financing

Down payment$69,980

Loan amount$279,920

Mortgage$1,418/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$160

Insurance$80

Maintenance$292

CapEx reserve$146

Vacancy loss$120

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $1,418/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 21, 2026.