Property is owned and operated by a Trust since Ownership's passing 2012; and has never been on the market in the past. The Property will sell. The hotel is currently positioned as an independent transient hotel, marketing its units for weekly rental (±$299 per week) and accepting only cash payment. The City of LA designated the hotel as a Residential Hotel (SRO) around 2009, however this was never enforced. The hotel has always operated as a transient hotel. A lawsuit is currently filed with the City appealing the Residential Hotel designation, and a “No-Action” letter was sent in July, 2024 by the City stating that Residential Hotel restrictions would not be enforced. There are currently 12 long term tenants. Great opportunity to purchase at a low basis, add value through renovation and repositioning as an economy motel, or perhaps an alternative use or supportive housing.