This high profile site comprised of 3 older motels on 3 separate legal lots totaling 3.11 acres. Located directly opposite the Walmart Super Centre Mall, on Skaha Lake Road, Penticton. The 3 motels have a total of 57 units which are all rented on a monthly basis with onsite property manager. The properties have received preliminary zoning approval to accommodate 282 residential units and 29,000 sq/ft of commercial in 3 high rise towers. Alternate uses would be mixed commercial to accommodate larger retail outlets, automotive dealerships, restaurants, or office use. The 3 motels generate over $478,000 annually, with a net income exceeding $235,000 and are professionally managed by a full time onsite caretaker. Please contact Listing Representative for information package and to set up a private view.
About #2730 2784-2842 Skaha Lake Road, Penticton, V2A 6G1
Directions:2720, 2784 & 2824 Skaha Lake Rd
Financial Information
- Native Reserve Land : N
- Realtor Ownership : N
- Title Held : Freehold
- Court Ordered Sale : N
- Trades : Y
- Taxes : 21740
- Tax Assessment Status : Assessed
- Legal Description : Lot A Plan 27251 Lot 2 & 3 Plan 21548 District Lot 116 SDYD except Plan KAP92307
Property Features
- # Units : 57
- Bylaws Available : N
- Classification - Commercial : 12+ units other
- Construction : Frame - Wood
- Elevators : No Elevators
- Equipment Included : Air Conditioning
- Exterior Finish : Mixed
- Financial Statements Available From : Listing Broker
- Flat Site
- Flooring : Flooring Mixed
- Fuel : Mixed
- Heating : Radiators (Steam/Water)
- Information Package Available : Y
- Major Area : Outside Board Area
- Neighbourhood / Area : Penticton
- PID Number : 004-459-644
- Predominant Use : Residential
- Roof : Asphalt/Fibreglass Shingles
- Sewage Disposal : Sewer
- Signs/Canopies : Owned and Included
- Site and Occupancy : Central Location' Flat Site' High Traffic Area 'hopping Nearby
- Stories : 2
- Storm Drainage : Connected
- Sub-Area :IB - Interior B.C.
- Transaction Type : For Sale
- View : City View
- Water Supply : Municipal
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