Luxury Boutique Hotel Portfolio Hospitality FOR SALE


Pacific Grove, CA
$17,500,000 USD
669-800-5121
, Pacific Grove, CA for Sale
$17,500,000 USD
Hospitality - FOR SALE
1/29
null | 5.14% Cap Rate

Luxury Boutique Hotel Portfolio
Pacific Grove, CA


HIGHLIGHTS

  • Beautifully aesthetic and historic property with ocean views and comfortable, modern common areas.
  • Best in class occupancy and ADR. Excellent investment.
  • Well-maintained property. Recently renovated in 2023. Notable property features include multiple patios, balconies, and high-speed internet.
  • Excellent location in the scenic Pacific Grove.

OVERVIEW

This portfolio is being offered unencumbered by management, and the prospective buyer is free to self-manage, continue with Four Sisters Inns exceptional third-party management, or perform a sale-leaseback with Four Sisters Inns as a Tenant. 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.

ASK ABOUT THIS PROPERTY

Corbett WrightCW Land Consultants, Inc.More Info
669-800-5121

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

Corbett WrightCW Land Consultants, Inc.More Info
669-800-5121

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