What’s being lauded as an iconic property on the Malahat has just hit the market, offering prospective buyers the chance to add motelier to their resumes.
Malahat Bungalows at 300 Meadow Way, with its red “Motel” sign visible from the Trans-Canada Highway, is listed for $2.85 million, reads the REALTOR.ca page.
Realtor Daniel Ross calls it a “mom-and-pop” business situated on more than 3.5 acres of land. The motel has 11 bungalows and 17 suites, and according to information from BC Assessment, it was built in 1974.
“It’s been the iconic, cheaper place to stay outside of town forever,” said Ross.
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(Photo: Realfoto Media, Inc.)
The listing was posted online one day ago, and since then, Ross says the property has “garnered a lot of attention quite quickly.”
He says a couple has been operating the motel for years but is looking to settle down and sell.
“A couple runs it. When I say run it, I mean run it. They live on-site, clean it, sit behind the desk,” he added.
“Quiet a sweet couple but looking to go to greener pastures. Retirement is exactly the goal.”
According to the realtor, the property also features a four-bedroom, three-bathroom single-family home, a BBQ area, a small pond, and a recreation area.
The annual property taxes are $9,894.
Ross’ new listing, which is shared with realtor Tony Joe, comes after a spring real estate market that, while usually busy, was “slow to launch this year,” says the Vancouver Island Real Estate Board in its May report.
That was despite an increase in listings year over year.
“I’d call it a little bit flatter than we’re used to in previous years, but not bad either. It’s in that lazy period, let’s call it,” added Ross.
“Our prices are holding pretty steading, I think sales are pretty similar to past years.”
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Ethan Morneau
