TITLE:
MID CENTURY BOTIQUE MOTEL
CONTROL:
Partner
VALUE:
$1,199,000
LOAN:
$648,250
EQUITY:
$550,750
TYPE:
Hotel/Motel
HAVE:
Eight room motel in Destination Location : Joshua Tree Ca .The national park draws over 3M visitors a year. Located 1/2 mi to the entrance. Each room has kitchennete , 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:
NO pmts on first td till Dec . OWC with no/low pmts to allow owner to get in and implement their marketing prog.
Great Opp for mom/pop etc
GROSS SCHEDULED INCOME:
$417,880 Projected
VACANCY LOSS:
$214,936
GROSS EFFECTIVE INCOME:
$202,944
EXPENSES:
$100,200
NOI:
$102,744
DEBT SERVICE:
$54,396
CASH FLOW:
$48,348
CAP RATE:
8.57%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$648,250
$4,533
8%
07/01/2029
Yes
BENEFITS SOUGHT:
Down and Out. members of LLC retiring and going through life changes (ask)
CAN ADD:
1/1 condo in Long Beach $599k f/c
cash paper other pkgs in book
REMARKS:
Priced below recent appraisal. Sellers will carry up to 90% Ask for details. Motivated sellers. EXCESS LAND zoned R3 can accommodate up to 23 addl units
COUNSELOR:
Bob Zweig
Peartrei Capital
8502 E. Chapman Ave. #106
Orange, California, 92869
