Another Penticton motel changes hands

The 36-unit Log Cabin motel has sold.

The Log Cabin Motel in Penticton.

The Log Cabin Motel in Penticton, located at 3287 Skaha Lake Rd., has sold for $2.9 million.

According to Western Investor, the 36-unit motel is situated on a 1.9-acre corner lot, with high-density zoning. It sold for approximately $80,000 per suite.

Related: Many motel sales indicate strong real estate market

The site was listed for $3.2 million with an assessed value of $2.2 million.

This year, the site of the former Super 8 motel went to B.C. Housing to build social housing, the former Highland Motel went to Azura Management to build townhomes and the El Rancho has gone to an unknown buyer.

The Slumber Lodge motel was also sold, according to a July report from Western Investor, which also published details on the sale of the Jubilee Motel in August.

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