600 Riverside Ave - Hospitality FOR SALE


Santa Cruz, CA 95060- Riverwalk
$24,000,000 USD
831-247-3007
600 Riverside Ave, Santa Cruz, CA for Sale
$24,000,000 USD
Hospitality - FOR SALE
1/88
null | Request Cap Rate

600 Riverside Ave
Santa Cruz, CA 95060
Riverwalk


HIGHLIGHTS

  • Beach Resort Location & Vibe
  • Outdoor pool, two hot tubs, patio and lounging areas
  • Inside corridors, wide hallways
  • Walk to Santa Cruz Boardwalk, Pier, Bowling Alley, Arcade
  • Possible Specialty Housing Opportunity
  • Rooms have balcony or patio

OVERVIEW

This well cared for property might be an ideal candidate for specialty, affordable housing, assisted or retirement living, rehabilitation facility or ?? With 79 rooms plus one (1) managers apartment, the rooms are all pretty spacious, and can easily accommodate 160+ beds. We just completed a property tour with a major hotel brand with positive results. Branding this property would drastically elevate occupancy, ADR and NOI. The property is large enough for possibly adding on. "Pride of Ownership” apparent as you soak in the “Beach Vibe” resort hotel in the Surf City known as Santa Cruz California. This recently renovated property offers 80 rooms inclusive of 12 family size spacious rooms and suites, and a full-service manager living accommodations. Multiple connecting rooms and suites, two story suites and all rooms offer a patio or balcony adding to the lure of guests looking for a hotel with large clean rooms and the envy of other area hotels. Rooms are comfortable enough to accommodate two queen beds or two king beds with room to spare. A beer and wine license is in process currently. The hotel sits on 1.3 acres of space that is entirely fenced and hosting 67 parking spaces including 4 DP marked spaces. The hotel housekeeping department equipment provides the linens and towels for the hotel. The lobby offers dining area space offering a warm welcome upon arrival. Riverside Ave. and Barson St road wraps around the hotel, creating its own island feel of space and privacy.

FOR SALE DETAILS

PRICE

$24,000,000 USD

PRICE/SF

$671 USD /SF

# OF ROOMS

79

PRICE/ROOM

$303,797 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hotel Solares

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1984

PARKING SPACES

67

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

RTB; Santa Cruz

APN/PARCEL ID

007-421-01-000

ASK ABOUT THIS PROPERTY

Paul ZechColdwell Banker Realty Commercial & ResidentialMore Info
831-247-3007

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Paul ZechColdwell Banker Realty Commercial & ResidentialMore Info
831-247-3007

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