Property Listing No Longer Available for Sale

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
UpdatedNovember 18th, 2016
TypeHotel
Price$1,100,000
Building3,992 Sq. Ft.
Land0.55 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