225 Colorado Pl
Arcadia, CA 91007
Motel 6 Los Angeles Arcadia Pasadena Area · Hospitality Property For Sale · 21,548 SF

KW Commercial is pleased to present for sale a redevelopment investment opportunity to acquire 225 Colorado Place, Arcadia - Motel 6 in Arcadia. First time on the market in over 50 years, this rare acquisition opportunity is ideal for an experienced developer or development investor with a market understanding of the area. The property being offered for sale consists of an eighty-eight (88) room two-story garden low-rise 21,548 square feet motel building constructed in 1963 and situated on 2.38 acres or 103,672 square feet lot. Property is currently tenant occupied with a triple net lease agreement with Motel 6. Property's inherent and potential value derives from its' redevelopment potential and current grandfathered 88-room hospitality usage. Zoned general commercial with the Downtown Overlay bonus, based on the city's general plan, the overlay grants two development bonus to the property: first, being an increase of structure/building maximum height to 48' and the second revision of the FAR to 1.0 for redevelopment. Potential validity of the property's value stems from the fact that the property garners site specific plan entitlement based upon city approval. All prospective buyers interested in complete redevelopment should cross reference ideas/plans with the city's economic development analyst for review. **Note Seller has initiated buyout negotiations with Tenant; prospective parties and buyers are advised to prepare offers in LOI format and to include any contingencies that will satisfy purchasing concerns. The city of Arcadia is a sprawling Los Angeles metropolitan suburb located 13 miles east of downtown LA. As Pasadena's eastern neighbor and bordering city, Arcadia is travel destination for both visiting tourists and non-resident southern California locals. The city is home to the Los Angeles County Arboretum, the world famous Santa Anita Park (home of the Breeders Cup), Westfield Santa Anita Arcadia Mall, and acts as a regional shopping hub for West San Gabriel Valley residents. Well positioned in the downtown area of Arcadia the Property's attractive location centrally located within the city's designated downtown area provides inherent redevelopment advantages; which includes readily accessible to local food, dining, shopping, and emergency medical services readily accessible by walking, public transportation, or a short drive. Property's location being minutes from accessing the 210 Freeway via Santa Anita Avenue, a short drive to Westfield Santa Anita Arcadia Mall, across the street from Santa Anita Park, and walking distance to the Metro Gold Line Arcadia Train Station. Call for all offers, in LOI format, to due at the end of the month January 31, 2019. All prospective Buyers interested in the property are advised to submit before the end of the month if interested in acquiring. Please contact listing agents if you have any questions, concerns, need pricing guidance, or would like assistance with offer submission.