Vancouver Island Resort
Location British Columbia,Canada
Asking Price Range $2.5M - $5.0M
Gross Revenues $533000
Net Profit / Cash Flow $252400
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1985
Number of Employees 10 - 19
Relocatable Not Disclosed
Number of Employees 10 - 19
Real Estate Owned
Training Negotiable.
Description This four-story, 31-room European-style, waterfront, boutique hotel for sale is located on Vancouver Island, British Columbia, Canada. There are 12 Standard Rooms with Private Balconies; 16 Fully Contained One-Bedroom Suites with Private Balconies; 2 Fully Contained Two-Bedroom Suites with Private Balconies; and, 1 one-bedroom, fully contained, fully furnished managers suite with private balcony. The hotel has an elevator, breakfast/meeting room, guest and hotel laundry facilities, a maintenance shop, and underground parking along with outside parking.
Over the past three years the hotel has been completely renovated inside and out. All rooms/suites received new carpet, laminate & tile flooring; new window-dressings; new Murphy-beds, new mattresses & box springs; new fixtures, new European furniture; new kitchen appliances; new kitchen counter-tops; and new bathroom fixtures, toilets & tubs; in addition to refurbishing many of the beautiful European antique accents and furnishings. The exterior of the hotel was completed July 2008. New windows, patio doors and new decks, new hardy-board siding with rain curtain, new roof and a new three-coat paint job. The building is like new and up to current codes. No major repairs needed for next 15-20 years, building is in excellent condition.
The 31 rooms/suites have been divided up into 19 strata titles. All disclosure statements pooled rental agreements are in are complete and ready to make sales happen; one unit is sold. The gain by exercising the strata sale can be in the neighborhood of $2,000,000.
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