205 Wave DrWhitethorn, CA 95589

Property Details for 205 Wave Dr

Year built

1968

Construction

WOOD

Lot size

0.50 AC

Property size (Sq ft)

4,395 SF

Zone code

CR-Q/A,D

Property type

Hospitality properties

Property subtype

Motels

APN

109-361-048-000

APU

109361048000

Description

This exceptional coastal hotel, the Inn of the Lost Coast, presents a lucrative investment opportunity. Located at 205 Wave Dr., Shelter Cove, CA 95589, this property boasts stunning ocean views from its clifftop perch. The 20,000+ square foot inn comprises three buildings, constructed in 1968, 1997, and 2007, with extensive renovations completed in 2017. The three-story wood-frame structures offer 18 guest rooms, a luxurious penthouse suite, and a manager's unit. All guest rooms feature balconies or patios with breathtaking ocean views, while suites include added amenities such as kitchenettes, in-room spa tubs, saunas, private decks, and gas fireplaces. Adding to the property's appeal are two leased commercial spaces: a coffee/gift shop and a pizza/bakery, providing additional stable income streams and convenient options for guests. The 21,780 square foot lot is zoned CR (Commercial Recreation). Detailed financial records are available, projecting a 2024 gross income of $819,719 and a net income of $491,831, resulting in a projected capitalization rate of 7.56%. This turnkey operation offers a unique blend of luxury accommodations and consistent revenue generation in a highly desirable coastal location. The property's exceptional location, high-quality amenities, and strong financial performance make it an ideal investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,369,552

  6.5%

  $1,264,202

  7%

  $1,173,902

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,895,196

  Geo Method

  $1,474,668

• Alternative Use

  Use

  Valuation

  Residential

  $1,380,141

  Hospitality

  $1,264,202

  Educational

  $1,051,801

  Medical

  $1,087,974

  Retail

  $1,636,135

Location Insight

City

Whitethorn

County

Humboldt

State

California

Latitude

40.0346

Longitude

-124.078

CBSA code

21700

CBSA name

EUREKA-ARCATA-FORTUNA, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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