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Additional details

Nader Bakhoum,PMP, P.Eng.

info@home-nader.com +1(604) 612-7228

$ 1,875,000

Est. payment | -/mo

7,500 SqFt

Save

$ 1,875,000

Est. payment | -/mo

Save

7,500 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Approx. Sqft 7500

Square Footage 7,500 sqft

Price per Sqft $250

Subdivision Osoyoos

MLS® Listing ID 10370254

Year Built 1956

Lot Size 1.720 Acres

Acres 1.72

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 6.95% 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

Rooms

Kitchen 0.0

Interior

Heating Baseboard heaters

Exterior

Parking Features No

View Y/N No

Attached Garage No

Garage No

Private Pool No

Building

Sewer Municipal sewage system

Listed by Sotheby's International Realty Canada

7414 97 Street Osoyoos, BC V0H1V5