Penticton's Jubilee Motel sold for $1.2M

The 26-unit motel sold for over $46K per suite

By
for Western Investor
August 10, 2017





jubilee motel
 
The Jubilee Motel in Penticton has sold for $1.2 million, NAI Commercial Okanagan tells Western Investor. 
 
The 26-unit hotel is situated on just under an acre of land and was purchased by 1084064 BC Ltd. for approximately $46,153 per suite. The motel is comprised of 11 kitchenettes and 15 standard rooms. The property has an assessed value of $936,400 and listed for $1.3 million. The sale closes on August 30. 
 
The property is located at 2475 Skaha Lake Rd., Penticton. 
 

Breakdown: 

 
Price: $1,200,000 
No. of Units: 26  
Price/Unit: $46,153
Lot Size: 33,018 SF
Property Type: Hotel 
Zoning: CT1
2016 B.C. Assessment Value: $936,400
Date of Sale: 08/30/2017
City: Kelowna 
Province: B.C.
Name of Brokerage: NAI Commercial Okanagan Ltd. 
Name of Vendor: Pontes Properties Ltd. 
Name of Buyer: 1084064 BC Ltd.
 
 

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Philip is a managing broker for NAI Commercial Okanagan and has over 24 years as a licensed real estate professional.

NAI Commercial Okanagan
105-347 Leon Avenue
Kelowna, B.C. V1Y 8C7
Office: 250-868-1879

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