A pair of Chinese investors have paid $1.62 million for a 54-room hotel on Kissimmee's W192 tourist corridor.
The Goldstar Inn & Suites at 4600 W. Irlo Bronson Memorial Hwy. was built in 1984. It's an exterior corridor motel with living quarters on site for the owner/manager.
The sellers, AARush 12, LLC, had owned the property for less than three years after buying it in early 2014 for $1 million. The buyers are Wan Ya Lee and Wan Zhu Lee, officers of newly formed YZZ Lee's Inc.
The motel is on a busy stretch of W192, at Mile Marker 14 and directly across from Leading Edge Helicopter Tours. Pablo Hernandez, principal of Leading Edge, is scheduled to meet next week with county staff to discuss the possibility of adding an indoor skydiving machine on the Leading Edge Helicopter site.
The nearby Country Hearth Inn is currently on the market for $3.5 million. A different group of Chinese investors bought that property, the former Rodeway Inn, in July 2015 for $2 million and renovated the 114-room property to bring it up to Vantage Hotels standards.
In April of this year, Connecticut-based Athena Real Estate bought the nearby RV park on Old Vineland Road for $2.5 million. After an extensive renovation, they reopened the newly branded Kissimmee RV Park in time for the summer season.