7414 97 Street
Osoyoos, British Columbia
MLS® 10370254
$1,875,000
- Status
- Active
- Property type
- Hospitality
- MLS® number
- 10370254
- Bedrooms
- —
- Bathrooms
- —
- Year built
- 1956
1 / 60Listing 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.
Property summary
- MLS® number
- 10370254
- Property type
- Hospitality
- Building type
- Other
- Square footage
- 7,500 sq ft
- Land size
- 1.72 acres
- Built in
- 1956
- Days on market
- 292 days
Features & details
- Heating
- Baseboard heaters
What would this home cost you?
Based on the $1,875,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Sotheby's International Realty Canada, Kelowna.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.