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Eureka Inn, Trademark Collection by Wyndham 518 7th St 110 Room Hotel Eureka, CA 95501 $9,900,000 ($90,000/Room)
INVESTMENT HIGHLIGHTS
- 117 Units
- Significant Upside Opportunity - Trailing 12 Month Revenue Up $346,000, Increasing Steadily, and Still Only at 50% of the RevPAR Index
- 4-Story Interior Corridor Hotel
- Prime Location in Downtown Eureka Adjacent to Shops, Museums, Restaurants, the Pacific Coastline, Redwood National Park, and an Array of Additional At
EXECUTIVE SUMMARY
The Eureka Inn is a 117 room 4-story, interior corridor hotel located in Eureka, CA. The hotel is one of the most well-known properties in northern coastal California and is listed on the national register of historic places. Originally built in 1922, the hotel has a rich history and has hosted many notable guests through the years, including Winston Churchill and Ronald Reagan. The history and significance of the hotel are reflected in the grand lobby with its magnificent chandeliers and the meticulously preserved Elizabethan Tudor Revival architecture.
The hotel was reopened by the current owner in 2010 after a period of closure, and has seen steady growth since that time through significant renovations and a partnership with Wyndham Hotels and Resorts' Trademark Collection. The hotel has had increases in room revenue each of the last three years and is on pace for increased revenue again in 2024. The hotel is currently performing at only 44% of the competitive set RevPAR which presents significant opportunity for even more growth. The hotel's bar is currently operating 3–4 nights per week, another bar and the main restaurant remain closed and could drive additional revenue if re-opened. As a Historic Building, there are numerous incentives available for investors.
The hotel is conveniently located in downtown Eureka, occupying an entire city block within walking distance of numerous museums, shops, and restaurants. Also, nearby are the campuses of College of the Redwoods and Cal Poly Humboldt. Greater Eureka has a population of over 45,000 residents.
The hotel was reopened by the current owner in 2010 after a period of closure, and has seen steady growth since that time through significant renovations and a partnership with Wyndham Hotels and Resorts' Trademark Collection. The hotel has had increases in room revenue each of the last three years and is on pace for increased revenue again in 2024. The hotel is currently performing at only 44% of the competitive set RevPAR which presents significant opportunity for even more growth. The hotel's bar is currently operating 3–4 nights per week, another bar and the main restaurant remain closed and could drive additional revenue if re-opened. As a Historic Building, there are numerous incentives available for investors.
The hotel is conveniently located in downtown Eureka, occupying an entire city block within walking distance of numerous museums, shops, and restaurants. Also, nearby are the campuses of College of the Redwoods and Cal Poly Humboldt. Greater Eureka has a population of over 45,000 residents.
PROPERTY FACTS
| Price | $9,900,000 | Building Size | 93,000 SF |
| Price Per Room | $90,000 | No. Rooms | 110 |
| Sale Type | Investment | No. Stories | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1922/2018 |
| Property Subtype | Hotel | Parking Ratio | 0.09/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 1.32 AC | Opportunity Zone |
Yes
|
| Zoning | CC-LW | ||
| Price | $9,900,000 |
| Price Per Room | $90,000 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.32 AC |
| Building Size | 93,000 SF |
| No. Rooms | 110 |
| No. Stories | 4 |
| Year Built/Renovated | 1922/2018 |
| Parking Ratio | 0.09/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | CC-LW |
AMENITIES
- Business Center
- Pool
- Restaurant
- High Speed Internet Access
- Patio
- On-Site Bar
- Boutique/Lifestyle Hotel
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 5 | $243.00 | - |
| Guest Room | 105 | $198.00 | - |
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,057,698 | |
| Land Assessment | $1,550,777 | Total Assessment | $3,608,475 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,550,777
Improvements Assessment
$2,057,698
Total Assessment
$3,608,475
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Eureka Inn, Trademark Collection by Wyndham | 518 7th St
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