Ocean View Coastal Motel - Super Income - Great Buy!
This Motel is a dream find for someone. Only 3.1MM with asumable
existing financing of 2.1MM @ 6.5%.
Located on the famous Pacific Coast Highway in Sonoma County CA.
Lodge accomodations and seperate Resturaunt/Bar have sweeping and
spectacular ocean views. The Lodge is comprised of 16 rooms
surrounded by spacious and picturesque grounds & gardens. Sandy
beaches, state parks, the world renown Sea Ranch and Kruse
Rhododendron Ranch with Redwood forests nearby.
The owner has thouroughly upgraded the of this 5.82 acre property.
Annual Adjusted Gross Income (pro forma) = $984,570
Projected Operating Expense (pro forma) = $627,285
Total Annual Net Operating Income (pro forma) = $357,285
Sales Price = $3,100,000
Lender (70% LTV) = $2,170,000
Assumable 6.5%/10 year
Down Payment = $936,000
Annual Debt Service = $175,824
Cash Flow = $199,461
Cash on Cash = 21%
I think these numbers could be significantly improved if someone ran
this place with some efficiency and did some proper marketing to the
Bay Area. What a great Buy!
For more info please call or email.