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.
No. of Units: 26
Lot Size: 33,018 SF
Property Type: Hotel
2016 B.C. Assessment Value: $936,400
Date of Sale: 08/30/2017
Name of Brokerage: NAI Commercial Okanagan Ltd.
Name of Vendor: Pontes Properties Ltd.
Name of Buyer: 1084064 BC Ltd.
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