For Sale
$10,000,000

1440 Mission DrSolvang, CA 93463

Charming 39-room boutique hotel in Solvang, CA.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 39-key European-style boutique hotel, located at 1440 Mission Dr, Solvang, CA 93463, presents a compelling investment opportunity. Built in 1968 and extensively renovated in 2023, the property boasts a desirable location in the heart of Santa Barbara County's vibrant Santa Ynez Valley. The hotel sits on a 0.79-acre lot and features a two-story building. Currently operating at 60% occupancy, the hotel generates a strong Net Operating Income (NOI) of $836,140, representing a pro-forma capitalization rate of 7.96%. The asking price is $10,000,000, translating to a price per key of $269,231. Amenities include an outdoor heated pool and jacuzzi, enhancing the guest experience. This property is ideally positioned to capitalize on the thriving tourism in Solvang, offering a unique blend of European charm and Californian allure. The recent renovations ensure the hotel is well-maintained and ready to continue generating strong returns. This is a rare opportunity to acquire a profitable and well-located hotel in a sought-after destination. The property's strong financial performance and attractive amenities make it an ideal investment for discerning buyers seeking a foothold in the hospitality sector. The hotel's prime location and recent upgrades position it for continued success and growth within the thriving tourist market.

Highlights

  • $10,000,000 Asking Price
  • 7.96% Pro-Forma Cap Rate, $836,140 NOI, 60% Occupancy
  • 39-Key Boutique Hotel, recently renovated in 2023
  • Located in Solvang, CA, Santa Barbara County, on a 0.79-acre lot
  • Two-story building, built in 1968, offering a European-style experience with modern amenities including an outdoor heated pool and jacuzzi.

Property Details for 1440 Mission Dr

Property type
Hospitality properties, Hotels
Year Built/Renovated
1968/2023
Buildings
1
Stories
2
Lot Size (sq. ft)
34,412 SF

Location Insight

City
Solvang
County
Santa Barbara
State
California
Latitude
34.594952
Longitude
-120.14685
1440 Mission Dr, Solvang, California

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1440 Mission Dr
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