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Heritage Inn Express 725 Broadway St 39 Room Hotel Chico, CA 95928 $2,750,000 ($70,513/Room)
EXECUTIVE SUMMARY
Offered at $2,750,000, the Heritage Inn Express is a high-visibility and well-known 36 room hotel, located right in the heart of downtown Chico California. This fantastic investment provides a rare opportunity to acquire a property in the hospitality segment of the market with tremendous upside for an incoming owner/operator.
With its close proximity to not only the downtown area, but also Chico State University and Enloe Hospital, the property has the potential to draw from multiple different occupant demographics. Residents can easily walk to the many shops, well-known restaurants, Thursday night Farmer’s Market, concerts in the park and other opportunities that the beautiful downtown area has to offer.
Many of the units have already been nicely updated with newer flooring, paint and fixtures and the property has been priced significantly below market to allow for remaining improvements to be completed.
In addition to all of the benefits offered by the property itself, very attractive owner financing is also available, helping to ensure tremendous positive cash flow from day one.
With its close proximity to not only the downtown area, but also Chico State University and Enloe Hospital, the property has the potential to draw from multiple different occupant demographics. Residents can easily walk to the many shops, well-known restaurants, Thursday night Farmer’s Market, concerts in the park and other opportunities that the beautiful downtown area has to offer.
Many of the units have already been nicely updated with newer flooring, paint and fixtures and the property has been priced significantly below market to allow for remaining improvements to be completed.
In addition to all of the benefits offered by the property itself, very attractive owner financing is also available, helping to ensure tremendous positive cash flow from day one.
PROPERTY FACTS
| Price | $2,750,000 | Building Size | 30,960 SF |
| Price Per Room | $70,513 | No. Rooms | 39 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1900 |
| Property Subtype | Hotel | Parking Ratio | 2.42/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.40 AC | Opportunity Zone |
Yes
|
| Zoning | C1 | ||
| Price | $2,750,000 |
| Price Per Room | $70,513 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 30,960 SF |
| No. Rooms | 39 |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 2.42/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | C1 |
AMENITIES
- Pool
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 6 | $92.00 | - |
| Guest Room | 33 | $77.00 | - |
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Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 004-283-010-000 | Improvements Assessment | $0 |
| Land Assessment | $1,261,938 | Total Assessment | $1,261,938 |
PROPERTY TAXES
Parcel Number
004-283-010-000
Land Assessment
$1,261,938
Improvements Assessment
$0
Total Assessment
$1,261,938
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