1895 Monterey StSan Luis Obispo, CA 93401

Property Details for 1895 Monterey St

Year built

1961

Construction

WOOD

Lot size

1.35 AC

Property size (Sq ft)

5,192 SF

Zone code

CT

Property type

Hospitality properties

Property subtype

Motels

APN

001-152-015

APU

1152015

Description

This 40-key hotel in San Luis Obispo, CA presents a compelling investment opportunity. Situated on a 1.34-acre lot at 1895 Monterey St, 93401, this property boasts 17,264 square feet across two, two-story buildings. Built in 1961 and extensively renovated between 2015 and 2016, the hotel benefits from a C-T-S Tourist-Commercial-Special Consideration Zone Overlay permitting. The asking price is $9,999,000, representing a price per key of $249,975 and a price per square foot of $579.18. The pro-forma NOI is $771,151, yielding a 6.80% cap rate. The property's prime location near downtown San Luis Obispo and a prestigious university ensures strong demand. The APN numbers are 001-152-015, 800-000129, 800-000-009, and 807-000-114. This is a value-add opportunity with significant upside potential for a savvy investor. All offers will be considered.

• CAP approach

  CAP return

  Valuation

  6%

  $836,031

  6.5%

  $771,721

  7%

  $716,598

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,620,200

  Geo Method

  $3,180,494

• Alternative Use

  Use

  Valuation

  Residential

  $842,495

  Hospitality

  $771,721

  Educational

  $642,063

  Medical

  $664,144

  Retail

  $998,764

Location Insight

City

San Luis Obispo

County

San Luis Obispo

State

California

Latitude

35.2891

Longitude

-120.65

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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