Historical Hotel & Motel Sale Listing - Ridge Hotel

Hotel & Motel For Sale

This Hotel & Motel property is Off-Market. Search below to find active commercial real estate for sale or lease.

Browse More Listings in Hotel & Motel For Sale, Oakland, CA or California

Ridge Hotel

634 15th Street, Oakland, CA 94612

N/A

195 Rooms | Hotel & Motel

  • Print

Hotel / Motel - Off Market

Price:
N/A
No. Rooms:
195
Building Size:
64,979 SF
Property Type:
Hotel & Motel
Property Sub-type:
Economy/ Limited Service
Property Use Type:
Investment
Cap Rate:
9.82%
Corridor:
Interior
Lot Size:
14,300 SF
Listing ID
16064323
Last Updated
over 1 year ago

Description

The Ridge Hotel presents a unique opportunity for an investor to acquire a historic, affordable, Single Room Occupancy (SRO) residential hotel in Downtown Oakland. This 195-room hotel is centrally located at 634 15th Street just off of a major area thoroughfare and less than two miles from Lake Merritt.

The Ridge Hotel was originally constructed as a hotel in 1930 and then renovated in 1994 under the Section 42 LIHTC Program; there are extended use restrictions in place until December 31, 2048. Each of the 195 rooms is 10 feet by 12 feet and contains wall-to-wall carpeting, a dresser, box spring and mattress, sink and an intercom system. There are 4 units in the building that contain a single bath. Laundry facilities are provided on site for the residents and the building is wired for cable television. Residents benefit from a furnished community room and lounge.

The first floor of the building contains a restaurant and commercial kitchen which is currently vacant. A new owner would able to capitalize on the additional income potential by leasing the space.

This 195-room hotel is centrally located at 634 15th Street just off of a major area thoroughfare and less than two miles from Lake Merritt. It is conveinently located just a couple of blocks from the 12th Street Bart Station and Oakland's City Center.

Map of 634 15th Street, Oakland, CA 94612 (Alameda County)

Research for 634 15th Street, Oakland, CA 94612 (Alameda County)

  • Demographics – Population, income & other demographics near 634 15th Street
  • Research Price – Recent sales of similar properties
  • Property Record Data – Historical listings, current tax, mortgage, owners & tenant info for this building