Phillips Historic Motel & Cottages is a great opportunity for a family wanting to live on the property. The motel property has four buildings. The motel's main building includes the owner's five-bedroom, four-bath house, the reception area, a laundry room, a large basement with an additional laundry, and 12 guest rooms. Building 2 has 3 guest rooms, Building 3 has one large guest room. Building 4 has 5 guest rooms.
Busy Season Pricing with cash flow.
Price with Seller Financing (SF): $998,999 with $600,000 down, SF balance @ 6% I.O. for 5 years.or Cash Price: $898,000. It's hard to find a better price for this type of well-established property in a high-demand tourist area. Additionally, there is the possibility of manufacturing coming back to the area. Any contracts provide proof of funds.
Note: Adjacent to the property are six, 3- bedroom houses on 2 separate tax parcels with commercial zoning. They are currently part of the motel pool, but are not included in the motel sales price. The six detached homes rent for approximately $200 per night. The 6 houses are valued at over $1m but can be included in this purchase for only an additional $800,000 if purchased simultaneously with the motel. The owner may be open to a 1031 exchange for another property of similar value in Arizona, California, Utah, or Colorado, or income properties at or near a ski resort. Buyers and Buyers' Agents are to confirm any and all information they may deem material to their decision-making. Seller is making no warranties or guarantees and the property is being sold "AS IS".