$1,875,000

7414 97 Street, Osoyoos

Osoyoos, Osoyoos, BC V0H1V5

7,500 sq ft · Single-family home

Listed by Sotheby's International Realty Canada

About this property

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:67417)

Property details

Price

$1,875,000

MLS® number

10370254

Property type

Single-family home · Other · Hospitality

Living area

7,500 sq ft

Lot size

1.72 acres · 1.72

Year built

1956

Community

Osoyoos, Osoyoos

Features

Heating

Baseboard heaters

Water

Municipal water

Sewer

Municipal sewage system

Utilities

Water, Sewer, Natural Gas

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