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$ 1,959,000
Est. payment | /mo
7,500 SqFt
$ 1,959,000
Est. payment | /mo
7,500 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,500 sqft
Price per Sqft $261
Subdivision Osoyoos
MLS® Listing ID 10329966
Originating Board Association of Interior REALTORS®
Year Built 1956
Lot Size 1.720 Acres
Acres 74923.2
Property Description
Opportunity to purchase the Boundary Motel, a unique investment opportunity in the Osoyoos area of the South Okanagan! This prime 1.72-acre property in Osoyoos offers a unique investment opportunity with multiple income streams. The property includes a 14-room motel, a 6-plex, and 7 mobile home pads. The motel and 6-plex are zoned C1 (Highway Commercial) while RSM (Residential Manufactured Home Park) zoning encompasses the manufactured home section. The site is serviced by city water and sewer and is located in a high-traffic area along Highway 97 to the South of the primary town of Osoyoos. At the asking price, the property is offered at a 5.71% cap rate, which includes a manager's salary as an expense. For the right investor, this could be an opportunity to continue the existing cash flow of the property and take advantage of lowering interest rates, all being possible without running the motel in a ""hands-on"" way. Several opportunities exist to further increase the property's income stream. Modernizing booking systems, leveraging high season pricing, and renovating the motel, to name a few. Likewise, there is an upside for the manufactured home rents to be increased with tenant turnover. The manufactured homes themselves are not included as assets; they are owned by the tenants. Properties with three separate revenue streams do not often come to market. (id:24570)
Location
Province BC
Zoning Unknown
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Sewer Municipal sewage system
Others
Virtual Tour https://youriguide.com/v6F28ZP7Q6VLD1/
Listed by Sotheby's International Realty Canada