Hermosa Hotel & Cottages | 131 Metropole Ave
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Hermosa Hotel & Cottages 131 Metropole Ave
72 Room Hotel Avalon, CA 90704 $15,507,612 CAD ($215,383 CAD/Room)
INVESTMENT HIGHLIGHTS
- Recently Restored Property with Potential for Conversion Into a Boutique Hotel, Condominiums, or Multifamily Units
- High RevPAR Growth Market
- Located on Catalina Island, Which Brings More Than 1 Million Visitors Per Year
- Additional Income From an On-Site Leased Retail Space
- Irreplaceable High-Traffic Location in an Extremely High Barrier to Entry Market
- Nearby Attractions Include the Green Pleasure Pier, Catalina Island Casino & Avalon Theatre, Lover’s Cove, Catalina Island Museum, Beaches and More
EXECUTIVE SUMMARY
Property Tours
Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.
Marcus & Millichap has been chosen to exclusively market for sale the Hermosa Hotel and Cottages, located in the charming town of Avalon on Catalina Island. This offering provides a rare opportunity for buyers to acquire a well-established hotel with upside potential through redevelopment into an upscale boutique hotel, luxury condominiums, or multifamily apartment rentals. Our comprehensive analysis outlines several acquisition scenarios, showcasing the cash flow potential of various redevelopment options.
Currently operating as a boutique hotel and apartment rentals, the property features 72 units spread across multiple buildings, including hotel rooms, ocean-view suites, cottage style apartments. The Hermosa Hotel also benefits from additional income generated by an on-site retail space, further enhancing its investment appeal. With sweeping island and beach views, this is an unparalleled opportunity to capitalize on a premium location and create a unique, high-end development on Catalina Island.
Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.
Marcus & Millichap has been chosen to exclusively market for sale the Hermosa Hotel and Cottages, located in the charming town of Avalon on Catalina Island. This offering provides a rare opportunity for buyers to acquire a well-established hotel with upside potential through redevelopment into an upscale boutique hotel, luxury condominiums, or multifamily apartment rentals. Our comprehensive analysis outlines several acquisition scenarios, showcasing the cash flow potential of various redevelopment options.
Currently operating as a boutique hotel and apartment rentals, the property features 72 units spread across multiple buildings, including hotel rooms, ocean-view suites, cottage style apartments. The Hermosa Hotel also benefits from additional income generated by an on-site retail space, further enhancing its investment appeal. With sweeping island and beach views, this is an unparalleled opportunity to capitalize on a premium location and create a unique, high-end development on Catalina Island.
PROPERTY FACTS
| Price | $15,507,612 CAD | Lot Size | 0.62 AC |
| Price Per Room | $215,383 CAD | Building Size | 19,842 SF |
| Sale Type | Investment | No. Rooms | 72 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1896/2020 |
| Building Class | B | Corridor | Interior |
| Price | $15,507,612 CAD |
| Price Per Room | $215,383 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.62 AC |
| Building Size | 19,842 SF |
| No. Rooms | 72 |
| No. Stories | 3 |
| Year Built/Renovated | 1896/2020 |
| Corridor | Interior |
AMENITIES
- Balcony
- Business Center
- On-Site Retail
- High Speed Internet Access
- Patio
- On-Site Bar
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 2 | $387.69 CAD | - |
| Guest Room | 70 | $244.10 CAD | - |
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Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 7480-018-009 | Improvements Assessment | $6,215,555 CAD |
| Land Assessment | $5,579,069 CAD | Total Assessment | $11,794,625 CAD |
PROPERTY TAXES
Parcel Number
7480-018-009
Land Assessment
$5,579,069 CAD
Improvements Assessment
$6,215,555 CAD
Total Assessment
$11,794,625 CAD
ZONING
| Zoning Code | AVC1* (Apartment/Hotel) |
| AVC1* (Apartment/Hotel) |
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Hermosa Hotel & Cottages | 131 Metropole Ave
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