6208 West Coast Highway, Newport Beach, CA 92663
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Sold Price :
$19,000,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
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Year Built :
1970
Property Description
Investment Highlights; Seller Financing available at 5.50% interest only with 50 % LTV. Attractive 7.54% Cash-on-Cash return with seller financing.
ProForma CAP Rate of 6.68%. Current CAP Rate of 6.52% / 10-Year Corporate Backed Lease with (2) 5-Year Options to Extend / Recent Capital Improvements Exceeding $225,000+ /
Master-leased boutique hotel located in Newport Beach, CA. The hotel offers 47 rooms with a range of amenities. The asset is situated along the Pacific Coast Highway (90,000+ VPD), providing guests with stunning views of the ocean and easy access to the beach. The hotel is in a prime location for exploring Newport Beach, with a variety of shops, restaurants, and attractions located nearby.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
6208 West Coast Highway |
| City |
Newport Beach |
| State |
CA |
| Zip |
92663 |
| County |
Orange |
| Listing Agent |
ALBERT LE DRE #01468313 |
| Co-Listing Agent |
DARREN CORREA DRE #02066621 |
| Courtesy Of |
LE INVESTMENT GROUP |
| Close Price |
$19,000,000 |
| Status |
Closed |
| Type |
Commercial |
| Subtype |
Hotel/Motel |
| Structure Size |
N/A |
| Lot Size |
N/A |
| Year Built |
1970 |
Listing information courtesy of: ALBERT LE, DARREN CORREA, LE INVESTMENT GROUP. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 8th, 2023 at 12:41 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
