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5795 - 5799 Wildwood Lane - Lantern Inn, Paradise, CA

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5795 - 5799 Wildwood Lane - Lantern Inn

Paradise, CA 95969


Property Type:Hospitality Number of Rooms:16 Status:Existing Year Built:1960
Stories:1 Building Size:2,476 SF Land Area:.69 AC (30,056 SF)
For Sale Price:$789,000 Price/Room:$49,313 Cap Rate:9.25 %

Parking:-


Charming 16-room motel and three-bedroom, two-bathroom house.

Sale Notes:
Quiet and serene. Beautiful grounds and swimming pool. Includes 3 bed 2 bath owner/manager home. The 16 room motel is nestled in the tall pines located in central Paradise, in the foothills of the Sierra Nevada's, just ten minutes east of Chico, the main hub of northern California. Owners recently have performed upgrades,I.E. paint, newer roofs, flooring, electrical upgrades, some new a/c units,TVs, security cameras and more.
Conveniently located near Town of Paradise business center, restaurants, and community park. Paradise and Chico hold a lot of community events providing a great customer draw, such as Gold Nugget Days, Chocolate festival, Johnny Appleseed, to name a few. Chico has, in addition to what a bigger city would provide, the Silver Dollar Speedway races and CSUC graduation, which provide a good draw from the over flow. The temperature in Paradise is usually cooler than the Chico valley area, this also provides additional customer draw. Traffic count is 23,000+/- per day.

KW Commercial Chico Area
Kenneth Winslow
(530) 809-3700




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