518 7th St - Hospitality FOR SALE


Eureka, CA 95501
$9,900,000 USD
818-357-5156
518 7th St, Eureka, CA for Sale
$9,900,000 USD
Hospitality - FOR SALE
1/6
null | Request Cap Rate

518 7th St
Eureka, CA 95501


HIGHLIGHTS

  • 117 Units
  • 4-Story Interior Corridor Hotel
  • ALL Offers Encouraged
  • Significant Upside Opportunity - Trailing 12 Month Revenue Up $346,000, Increasing Steadily, and Still Only at 50% of the RevPAR Index
  • Prime Location in Downtown Eureka Adjacent to Shops, Museums, Restaurants, the Pacific Coastline, Redwood National Park, and an Array of Additional At

OVERVIEW

The Eureka Inn is a 117 room 4-story, interior corridor hotel located in Eureka, CA. The hotel is one of the most well-known properties in northern coastal California and is listed on the national register of historic places. Originally built in 1922, the hotel has a rich history and has hosted many notable guests through the years, including Winston Churchill and Ronald Reagan. The history and significance of the hotel are reflected in the grand lobby with its magnificent chandeliers and the meticulously preserved Elizabethan Tudor Revival architecture. The hotel was reopened by the current owner in 2010 after a period of closure, and has seen steady growth since that time through significant renovations and a partnership with Wyndham Hotels and Resorts' Trademark Collection. The hotel has had increases in room revenue each of the last three years and is on pace for increased revenue again in 2024. The hotel is currently performing at only 44% of the competitive set RevPAR which presents significant opportunity for even more growth. The hotel's bar is currently operating 3–4 nights per week, another bar and the main restaurant remain closed and could drive additional revenue if re-opened. As a Historic Building, there are numerous incentives available for investors. The hotel is conveniently located in downtown Eureka, occupying an entire city block within walking distance of numerous museums, shops, and restaurants. Also, nearby are the campuses of College of the Redwoods and Cal Poly Humboldt. Greater Eureka has a population of over 45,000 residents.

FOR SALE DETAILS

PRICE

$9,900,000 USD

PRICE/SF

$106 USD /SF

# OF ROOMS

110

PRICE/ROOM

$90,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eureka Inn, Trademark Collection by Wyndham

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1922

PARKING SPACES

8

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

CC-LW

APN/PARCEL ID

001-156-001-000,004-211-002-000,004-211-003-000

ASK ABOUT THIS PROPERTY

Eric WoldAmber Hotel CompanyMore Info
818-357-5156

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Eric WoldAmber Hotel CompanyMore Info
818-357-5156

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.