Three motels and one apartment complex, all linked to the Brar family, and Rupinder Investments, including the suspended Lakemill Lodge are all for sale now, according to the LoopNet website.
The Lakemill Lodge on Mill street, listed as a 121 room hotel, with AI looking renderings instead of the motel’s actual pictures, is listed at $15 million.
It was abruptly shut down earlier this year, sending its low income residents to scramble for new shelter, after it was deemed unsafe by local authorities.
“This property is ideal for a complete hospitality conversion, creating a vibrant downtown destination. Additional use cases could include residential or mixed-use applications. The building is available for immediate occupancy or can be delivered vacant to suit a buyer's needs,” the LoopNet listing indicates.
The 63 room Wonder Lodge, which also made headlines recently for too many people inside a room which was then condemned, at 430 Lake Street, is going for a cool $7 million. That listing has a current photo with an AI looking rendering next to it.
The Lucky Motel at 1011 E 4th street, is being offered for $2.7 million.The LoopNet listing indicates “this 23-room motel … generates consistent income with opportunities for modernization to increase revenue potential. Its layout and prime location also position it as a strong candidate for redevelopment for hospitality, medical, nonprofit, or government use.”
Finally their motel-like 26 apartment complex at 2241 E 4th street is also going for $2.7 million, with a similar description as “well-positioned to capitalize on Reno’s economic growth and increased tourism activity.”
Unless new eventual owners keep these going as long term motels, whenever the sales go through, more residents who rely on these cheap accommodations, as a last or first resort out of homelessness, will also be scrambling for new housing.
Our Town Reno reporting, December 2024