SOLD 8plex apartment building at 8710 Tomlin St, Summerland. Tomlin Apartments presents a valuable opportunity to own a cash-flow 8-plex in popular Summerland, British Columbia.
Each of the 8 units contains one bedroom and one bathroom. Every unit has it’s own entrance to outside and 2 dedicated parking spots including 7 carports.
Building is in good condition for it’s age. The asphalt roof is less than 10 year old. Electric heat and air conditioning is paid by tenants, all on separate meters. Minor work to second floor balconies may be required.
Two suites have been fully renovated and others are in solid condition. Tenants are mostly long-term renters with several residing in the building for more than 10 years.
Development potential includes an option to build 8 additional units beside the existing structure.
Summerland vacancy rate is constantly low and in high demand.
Combine bold entrepreneurship, incisive analysis and elite salesmanship, and you have Seth Baker. As Owner of Multifamily Real Estate Services,…