Historical Motel with Swimming Pool - Great Location
- Listing Id: 9441
- Broker Name: Wen Chen-Karkhanis
- Category: Hotels and Motels
- Asking Price: $3,250,000.00
- EBITDA: $154,000.00
- Real Estate: $2,500,000.00
- Cash Flow: $150,000.00
- Inventory: $1,000.00
- No. Of Full-Time Employees: N/A
- No. Of Part-Time Employees: N/A
- Gross Income: $200,773.00
- FF&E: $211,000.00
- Year Built: N/A
- Address: Click Here
- Zip Code: Click Here
- City: Los Angeles County
- State: CA
- Country: United States
- Tenancy: Single
- Occupancy: N/A
- Lot Size: N/A
- Available: Yes
Description
LOCATION! LOCATION!!!This small and cute historical motel with 23 rooms (Building -7,706 sqft Lot-20,338 sqft) and swimming pool is located on major road and busy commercial area, LA county has stopped issuing permit for motel at this size, so the competition in the area from similar hotels is minimal - the return clients appreciate its mid-century-modern appearances and the cozy environment provided by a courtyard-like site plan and design in human-scale, along with the great convenience given by its location. The hotel has been there from 1976 and the current owner took over from 1989. Looking for retirement, the current owner has not done any marketing and major renovation for years, and the property is waiting for someone who appreciate the location, able to invest in renovation so that the motel's occupancy and income can be improved.Current Occupancy: 50%, ADR: $65Recent Renovation: Pool, in year 2014, cost $10K.For more info, please contact listing broker Wen at (941) 526-9920 with Listing ID LA3841.
Financial Summary
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