555 N Centre City Pky
Escondido, CA 92025
Affordable Housing Conversion - 79 Units · Hospitality Property For Sale
·
75 Rooms
Property Facts
| Property Type | Hospitality | No. Rooms | 75 |
| Property Subtype | Hotel | No. Stories | 2 |
| Building Class | C | Year Built | 1974 |
| Lot Size | 1.53 AC | Parking Ratio | 4.25/1,000 SF |
| Construction Status | Converted | Corridor | Exterior |
| Building Size | 30,468 SF | ||
| Zoning | CG | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.53 AC |
| Construction Status | Converted |
| Building Size | 30,468 SF |
| No. Rooms | 75 |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 4.25/1,000 SF |
| Corridor | Exterior |
| Zoning | CG |
Amenities
- Business Center
- Pool
- On-Site Retail
About 555 N CENTRE CITY PKY , ESCONDIDO, CA 92025
Built in 1974, the Property Offering is the Opportunity to convert the existing use as a 79 room motel to an Affordable Housing/Multi-Family Development. The Property is comprised of approximately 24,015 square feet (per assessor) and rests on an approximate 1.53-acre lot. The Property is well maintained with new roofs (recently installed), recent exterior paint, asphalt driveways, attractive lobby and eating area, swimming pool and convenient parking (91 parking spaces). The property consists of 3 buildings contiguously positioned. Legally an 83 room motel, 6 of the units have been converted to larger 1 Bedroom rooms. SELLER MAY CONSIDER A JOINT VENTURE OR THE SELLING OF A PORTION OF THEIR INTEREST IN THEIR LLC OWNERSHIP. THE PROPERTY DOES NOT HAVE 10 YEARS CONSECUTIVE OWNERSHIP FOR TAX CREDITS. SELLER HAS OWNED FOR 6 YEARS.AS OF JANUARY 2019. SELLER HAS CLOSED PRIOR CONVERSIONS WITH AFFORDABLE HOUSING DEVELOPERS.
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 7 | $144.00 | - |
| Guest Room | 68 | $99.00 | - |
Property Taxes
| Parcel Number | 229-271-25 | Improvements Assessment | $6,150,053 |
| Land Assessment | $3,273,306 | Total Assessment | $9,423,359 |
Property Taxes
