1010 S Union Ave - Hospitality FOR SALE


Bakersfield, CA 93307- Casa Loma
$2,899,999 USD
661-343-9719
1010 S Union Ave, Bakersfield, CA for Sale
$2,899,999 USD
Hospitality - FOR SALE
1/32
null | 8.62% Cap Rate

1010 S Union Ave
Bakersfield, CA 93307
Casa Loma


HIGHLIGHTS

  • Busy street with ideal location for motel
  • Close to casino and swap meet (3 days a week)
  • Close to Kern County Fair Ground Event Center
  • Property has potential for a switch to senior care or health care center
  • Public bus stop is right outside the main entrance of the motel for easy access to public transportation

OVERVIEW

Prime Investment opportunity in a value add motel. Welcome to Country Inn Motel! A Bakersfield original serving locals, travelers & visitors since 1960. This 62 room motel on a 1.64 acre lot, is conveniently located near the Golden West Casino, weekly outdoor swap meet, Kern County Fair which attended by over 300,000 people every year and public transportation ensuring steady stream of guests year round. Motel is a 1 story, with mix of double bed, single bed, and suites. Property also consists of a separate welcoming reception area /reservation desk, 2 bedroom apartment for on site manager/owner to comfortable live in and laundry facilities. Also included in the sale next door is another building, which is currently being operated and leased as a Medical Office generating $6,000 a month in rental income. Sale also includes paid off solar panels that power the on site electric water heater system, that provides hot water to the entire property. This project can generate promising returns and a business deemed for success.

FOR SALE DETAILS

PRICE

$2,899,999 USD

PRICE/SF

$142 USD /SF

# OF ROOMS

62

PRICE/ROOM

$46,774 {currency}

CAP RATE

8.62%

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Country Inn Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1960

PARKING SPACES

81

LAND DETAILS

LAND ACRES

1.64 AC

LAND SF

71,282 SF

ZONING

C-2

APN/PARCEL ID

169-180-19-00-9

ASK ABOUT THIS PROPERTY

Moiz LakdawalaKeller Williams RealtyMore Info
661-343-9719

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Moiz LakdawalaKeller Williams RealtyMore Info
661-343-9719

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