An exciting premium investment opportunity in a bustling tourist area, offering income-producing potential and a highly versatile property for the discerning buyer. Prime location directly across the street from Okanagan Lake and the beach, and within walking distance of top attractions like the South Okanagan Event Centre, Penticton Trade & Convention Centre, Historic SS Sicamous, Penticton Rose Garden, and Loco Landing Adventure Park. This property consists of two strata units: a licensed 4-bedroom inn with shared living and kitchen spaces, a 4-bedroom vacation home, and two additional suites with private entrances. There are 10 bedrooms and 11 bathrooms in total: Unit 201 has 5 bedrooms & 6 baths, and Unit 202 features 5 bedrooms and 5 baths. C3 Mixed Commercial zoning allows for a multitude of uses, offering many opportunities for a potential buyer. Property is currently licensed as a Bed & Breakfast Inn, with potential to apply for short-term rental business license. Numerous patio areas provide guests a place to relax and enjoy breathtaking views of the lake and mountains. Designed in a distinctive Pueblo Revival/Santa Fe style, the property features impressive 20-foot high ceilings and 16-foot high fireplaces. Spacious locked garages offer secure storage for bikes, kayaks, and ski equipment. Each strata unit comes with a single-car garage and an additional parking stall in the driveway.