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

Hotel / Motel For Sale - In Contract

Pacific Grove inn

581 Pine, Pacific Grove, CA 93950

Price:
$3,250,000
No. Rooms:
16
Building Size:
10,000 SF
Price/Room:
$203,125
Property Type:
Hotel & Motel
Property Sub-type:
Economy/ Limited Service
Property Use Type:
Investment
Cap Rate:
8%
Average Daily Rate:
$153
Average Occupancy:
54%
Lot Size:
20,000 SF
Find Out More...

Last Verified 9/30/2009 Listing ID 16231875

Description

EIGHT PER CENT total down payment. Assumable financing. Seller attention is on his other hotels. Victorian Bed & Breakfast. Built circa 1910. High quality original woodwork throughout. Two buildings, one three story. Some ocean views. Five blocks from Monterey Bay, two miles to the Monterey Aquarium. All en-suite bathrooms. Fifteen fireplaces.

Corner of Forest Ave. and Pine in the heart of Pacific Grove, America's "Last Home Town".

Financial Summary

Actual
Net Operating Income
$245,000

Map of 581 Pine, Pacific Grove, CA 93950 (Monterey County)

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Hotel Brokerage

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julian bills (831) 212-4526

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Created 5/11/2009

Additional Information for 581 Pine Avenue, Pacific Grove, CA 93950

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Hotel & Motel Property For Sale - Pacific Grove inn

581 Pine, Pacific Grove, CA, 93950