Current Owner purchased the hotel and restaurant five years ago. Seller closed the hotel and restaurant. Seller applied for a planning and building permit with the City of Monterey with a plan to totally renovate the existing 18 unit hotel and construct a total of 42 hotel units (including the 180 and demolish the restaurant. Seller has decided construction costs are too high so has abandoned the project and is selling the 18 units plus closed restaurant and one bedroom living quarters AS IS.