Luxury Boutique Hotel Portfolio
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Luxury Boutique Hotel Portfolio
2 Hospitality Properties Offered at $19,083,049 CAD in Pacific Grove, CA
Investment Highlights
- Amazing Property - Irreplaceable Ocean Front Location!
- Best in class property management for over 50 years!
- Best in class Occupancy and ADR
- 2023 remodel - over $1,650,000 invested
Executive Summary
The Opportunity: The portfolio is being offered unencumbered by management, and the prospective buyer is free 1. to hire a new management company, 2. to continue with Four Sisters Inns high quality third party management, or 3. lease the property back to Four Sisters Inns as a NNN leased investment. The proposed purchase price is $17,500,000 for both properties, including the business and all FF&E. The post close NOI is estimated by FSI to be $945,168 Budget and $970,593 Trended. The Budget takes into account the 2025 budget, adjusted for 2025 wage increases, increased property tax based on the $17.5 mil sales price, and increased property insurance. The Trended NOI projection takes into account the trailing 12 months revenue increases, due to the extensive $1,650,000 improvements or roughly 50K per key completed in 2023. The resultant increases in occupancy as well as ADR are both still trending higher.
Property Facts
Properties
Property Name / Address | Property Type | Size | Year Built | Individual Price |
---|---|---|---|---|
Gosby House Inn
643 Lighthouse Ave, Pacific Grove, CA 93950 |
Hospitality | 6,181 SF | 1887 | - |
Green Gables Inn
301 Ocean View Blvd, Pacific Grove, CA 93950 |
Hospitality | 2,080 SF | 1888 | - |
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Presented by
CW Land Consultants, Inc.
Luxury Boutique Hotel Portfolio
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