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A rare opportunity to acquire two adjacent Okanagan income properties on separate titles, offered together as one portfolio. Both sit in the Trout Creek area of Summerland, walking distance to Okanagan Lake and minutes from downtown, beaches, wineries, orchards and golf. SunOka Apartments is a 25-unit multifamily complex of two buildings built in 2008, each two storeys. It contains nine one-bedroom suites and sixteen studio suites, several one-bedrooms. Every suite has a balcony or patio, and the site includes two EV charging stations. The complex is pet friendly and typically fully rented. With no interior common areas, ongoing maintenance is minimal. The Summerland Motel, directly adjacent, is a well-established 31-unit motel fronting Highway 97, with 9 units featuring kitchen facilities. It offers a beautiful courtyard with swimming pool, guest laundry and highway signage. A single-storey attached portion was fully renovated in 2021 with new roof, new siding and refreshed interiors. Held within a single company and offered as a share sale. Owners are nearing retirement and ready to sell. Call your agent!
Updates mentioned by the listing
- RoofUpdated 2021“A single-storey attached portion was fully renovated in 2021 with new roof, new siding and refreshed interiors.”
From the listing description. Ask Sean to confirm ages and receipts before you write an offer.
Highlights
- The site has 25 apartment suites in two two-storey buildings built in 2008, and per the listing every suite has a balcony or patio.
- The adjacent Summerland Motel has 31 units, 9 with kitchen facilities, plus a courtyard pool, guest laundry and highway signage.
- Per the listing, the motel's single-storey attached portion was renovated in 2021 with a new roof, new siding and refreshed interiors.
- Municipal water and sewer service the property, and Okanagan Lake is 550 m away, with Sun-Oka Beach Park 470 m away.
Things to check
- The listing gives 9 one-bedroom and 16 studio suites but also mentions several one-bedrooms. Ask the seller for the exact unit mix.
- The two properties are described as separate titles but offered as a share sale. Ask your lawyer what buying the shares includes.
Sean Phillips’s notes from the listing and public information. Not part of the MLS® listing. Please confirm anything important.
Overall neighbourhood score 9.4 / 10; walk & bike score 6.2 / 10, from how close the nearest school, park or trail, rec centre and town centre are. Scores and distances are Sean Phillips’s own straight-line measures from this home to public B.C. map data. They are not part of the MLS® listing; driving distances are longer, so please check anything that matters to you.
- Price
- $7,950,000
- MLS® number
- 10395303
- Property type
- Single-family home
- Ownership
- Freehold
- Lot size
- 1.37 acres
- Year built
- 2008
- Annual taxes
- $51,072
- Community
- Summerland Rural, Summerland
- Water
- Municipal water
- Sewer
- Municipal sewage system
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