1440 Mission DrSolvang, CA 93463

Property Details for 1440 Mission Dr

Lot size

0.79 AC

Property type

Hospitality properties

Property subtype

Hotels

APN

137-590-001

APU

137590001

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $11,642,088

  6.5%

  $10,746,543

  7%

  $9,978,933

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,377,897

  Geo Method

  $15,377,897

• Alternative Use

  Use

  Valuation

  Residential

  $11,732,103

  Hospitality

  $10,746,543

  Educational

  $8,940,998

  Medical

  $9,248,492

  Retail

  $13,908,219

Location Insight

City

Solvang

County

Santa Barbara

State

California

Latitude

34.595

Longitude

-120.147

CBSA code

42200

CBSA name

SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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