1341 Ocean Shores Blvd SW, Ocean Shores, WA
Hotel for Sale - $1,100,000 - 3,992 Sq. Ft. on 0.55 acres
Property Info
CIMLS# | 921088 |
Location 1341 Ocean Shores Blvd SW Ocean Shores WA 98569 | |
Updated | November 18th, 2016 |
Type | Hotel |
Price | $1,100,000 |
Building | 3,992 Sq. Ft. |
Land | 0.55 acres |
Property Description
Current owner lives in one of the Town homes while renting remaining four on a nightly basis via a professional service. The Caroline Inn is the only Town home Hospitality facility in Ocean Shores, WA to have been granted a 40-year right to rent by the night. New owner may choose to increase potential income in several ways: 1) by increasing rental rates to market levels (currently $199.00 nightly for double occupancy) 2) make all five units to be available for rent 3) Build a Wedding Chapel on front acreage.
Financials
NOI = $90,000
8.0% Cap Rate investment