THREE CALIFORNIA HOTELS FROM THREE SEPARATE SELLERS
Updated: May 20
3 CALIFORNIA HOTELS FOR SALE...
BUY 1, OR 2 OR ALL 3...
ALL 3 ARE OFF MARKET & ABSOLUTELY DELIVERABLE
HOTEL #1 Red Roof Inn
Price: $7.5M (Seller to pay the commission at this price)
June 2016 after $2.3 Million renovation
New elevator system - Income trending upwards year over year
On pace to do $1.6M in 2019
Projected stabilize income $1.8M
Ramada by Wyndham Hawthorne/LAX
Price: $36.5M (Seller to pay the commission at this price)
NOI: approximately $1,325,000
Approximate rooms: 160
Location: Los Angeles
Delivered without loans or management
Property could be re-developed into a more modern or boutique hotel.
It already has a full-service restaurant and Bar
Hotel #3 Torrance Marriott
Price: $159M (Seller to pay the commission at this price)
Excellent Performing /Stable Income
4-Star Lux 487-Key
PIP Reserve: $17 Million
NOI: $9.6 Million expected for 2019
CAP Rate: 6.86%
Approx. $10 Million in property renovations/improvements – included in asking price
Property has retail, restaurant, Starbucks
Location: Los Angeles
DELIVERABLE WHILE AVAILABLE THESE HOTELS ARE FROM THREE SEPARATE SELLERS..........
I AM DIRECT TO THE SELLER'S AGENT....
SELLER'S AGENT IS PAID BY THE SELLER SEPARATELY This is an off market (now) and this is a pre-due diligence package and not a formal diligence package and not a formal due diligence package. Once the buyer and seller execute the purchase and sale agreement and the buyer opens up the contracted escrow trust account with their contracted earnest money deposit, the seller will provide the buyer with all of the updated P&Ls, RENT ROLLS, TENANT'S LEASES and any VENDOR CONTRACTS that exist to close this transaction. To move forward, the buyer and or the seller to sign the asset specific master fee agreement (depending on the executed purchase price), the buyer to provide an asset specific letter of intent to include the purchase price, due diligence period, close of escrow of date and the amount of the earnest money deposit that will be escrowed once the buyer and the seller execute the purchase and sale agreement. The buyer to provide a buyer's commercial bio of commercial asset held in their investment portfolio. The buyer to provide a buyer's verifiable proof of funds in the form of a bank or fund statement of account.
PLEASE NO TRANSACTIONAL FUNDING