TITLE:
Mid-Century Boutique Motel
CONTROL:
Exclusive
VALUE:
$1,149,000
LOAN:
$648,000
EQUITY:
$501,000
TYPE:
Hotel/Motel
HAVE:
Eight room motel in Destination Location : Joshua Tree CA. The national park draws over 3M visitors a year. Located near the entrance. Each room has kitchenette, private bath, Dutch doors, old west style. Fully licensed and permitted and operating.
WEBSITE URL:
ADDRESS:
61589 Division St., Joshua Tree, California
BENEFITS TO NEW OWNER:
Est $50k /yr for PT owner operator can offer events, weddings, reunions, film shoots. walk to all restaurants, bars, etc in JT Village
GROSS SCHEDULED INCOME:
$378,000 Projected
VACANCY LOSS:
$171,000
GROSS EFFECTIVE INCOME:
$207,000
EXPENSES:
$107,000
NOI:
$100,000
DEBT SERVICE:
$54,396
CASH FLOW:
$45,604
CAP RATE:
8.70%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$648,250
$4,505
8%
07/01/2029
Yes
BENEFITS SOUGHT:
Members of the LLC prefer to go Down & Out or smaller income property.
CAN ADD:
up to $100,000 cash plus crank your down-leg. $500,000 in paper.
REMARKS:
Priced below 2023 appraisal of 1,350,000. Prefer to paper out SOFT terms. or trade for smaller improved RE. Motivated sellers. EXCESS LAND zoned R3 can accommodate up to 20 additional units. Co-listed w/encon commercial (John Scatoloni)
COUNSELOR:
Debbie Ferrari
KW Commercial Coastal Castles
635 Camino De Los Mares, 3rd Floor
San Clemente, California, 92673
