1604 Monterey St - Hospitality FOR SALE


San Luis Obispo, CA 93401
$9,000,000 USD
415-517-9856
1604 Monterey St, San Luis Obispo, CA for Sale
$9,000,000 USD
Hospitality - FOR SALE
1/21
null | 6.9% Cap Rate

1604 Monterey St
San Luis Obispo, CA 93401


HIGHLIGHTS

  • Prime Location on Monterey Street.
  • Seller Financing for 5 years.
  • Low down payment.
  • Pay 'zero' property tax for 5 years.
  • Amazing opportunity to own a hospitality asset in one of the most sought after areas in California.

OVERVIEW

This is a rare opportunity for an investor to acquire a hotel with a low downpayment, low monthly lease payments and zero property tax payments affording the investor time to inject money into the hotel and build up the business before executing a purchase. The Lamplighter Inn is a beautiful 54-room hotel that includes a 2-bedroom, 2-bathroom apartment unit in a prime location near downtown San Luis Obispo (SLO) in central California. Amenities include a swimming pool, spa, breakfast room, and elevator. San Luis Obispo is home to Cal Poly, one of the top universities in California and a short drive to many tourist hotspots such as Pismo Beach, Avila Beach, Morro Bay and Cambria. Along with the beach towns, the Central Coast is also famous for its many wineries that draw wine enthusiasts from all over the globe to wineries in Paso Robles, Santa Maria and Santa Ynez Valley to name a few. Website: https://www.lamplighterinnslo.com

FOR SALE DETAILS

PRICE

$9,000,000 USD

PRICE/SF

$417 USD /SF

# OF ROOMS

52

PRICE/ROOM

$173,077 {currency}

CAP RATE

6.9%

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lamplighter Inn

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1968

PARKING SPACES

47

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

CT

APN/PARCEL ID

001-142-009

ASK ABOUT THIS PROPERTY

Jag PatelLee & AssociatesMore Info
415-517-9856

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Jag PatelLee & AssociatesMore Info
415-517-9856

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