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7414 97 Street
Osoyoos V0H 1V5

$1,999,999
Hospitality 7,500 sq. ft. built: 1956

Main Photo: 7414 97 Street in Osoyoos: Hospitality for sale : MLS®# 10329966
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Status:
Active
Prop. Type:
Hospitality
MLS® Num:
10329966
Year Built:
1956
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:2493)
Property Type:
Hospitality
Total Living Area:
7,500 sq. ft.
Zoning:
Unknown
Community:
Osoyoos
Structure Type:
Other
Utilities:
Water, Sewer, Natural Gas
Half Bathrooms:
0
Fireplace:
No
Heating:
Baseboard heaters
Water:
Municipal water
Sewer:
Municipal sewage system
Lot Size:
1.72 acre(s)
Lot Details:
1.72
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Data was last updated December 21, 2024 at 11:15 PM (UTC)
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