6 S Wood St - Hospitality FOR SALE


Salinas, CA 93905- Greater Salinas
$3,100,000 USD
831-206-2335
6 S Wood St, Salinas, CA for Sale
$3,100,000 USD
Hospitality - FOR SALE
1/36
null | 6.44% Cap Rate

6 S Wood St
Salinas, CA 93905
Greater Salinas


HIGHLIGHTS

  • 25-unit boutique motel in Salinas, CA
  • Strong upside potential with increased occupancy (current ~40% vs. market ~75%)
  • Ideal for owner/operator — includes 2BR/2BA living quarters
  • Significant upgrades completed; minimal deferred maintenance
  • Stabilized NOI: $435,912 — 12.5% Pro Forma Cap Rate

OVERVIEW

Now available! A rare opportunity to acquire a well-maintained 25-unit boutique motel in the heart of Salinas, California. This well-maintained, two-story motel features an on-site office with the owners' living quarters, including 2 bedrooms, 2 bathrooms, a spacious kitchen & family room combo, and a separate living room. Recent upgrades to the entire building include double-pane windows throughout, a 400-amp electrical system, updated plumbing with a water softening system, an oversized water heater with room for expansion, and ongoing regularly scheduled maintenance of each unit. The roof was serviced in 2014, and the property was fumigated both recently and historically. Excellent opportunity for investors and operators exploring H-2A/ Extended-Stay Housing. The City of Salinas has approved an Extended Stay Program, creating added potential for farm labor housing and workforce accommodations. This property presents a unique opportunity to capitalize on the growing demand for agricultural workforce lodging within the Salinas Valley. - The seller is open to carrying a portion of the purchase price for qualified buyers. Attractive terms and a flexible structure may be considered.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$378 USD /SF

# OF ROOMS

26

PRICE/ROOM

$119,231 {currency}

CAP RATE

6.44%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Western Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1964

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

CR-FG5

APN/PARCEL ID

004-061-036-000

ASK ABOUT THIS PROPERTY

Eddie GuajardoeXp Realty of California, Inc.More Info
831-206-2335

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Eddie GuajardoeXp Realty of California, Inc.More Info
831-206-2335

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