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 18 and demolish the restaurant. Seller has decided construction costs are too high and therefore has decided to move at this juncture in a different direction and is selling the 18 units plus closed restaurant and one bedroom living quarters AS IS.