1895 Monterey St San Luis Obispo, CA 93401
- Motels
- 5,192 SF
- 1.35 lot acres
Current Use by Public Records
- Inn at San Luis Obispo / Hotel / Extended Stay Hotel
Property Details for 1895 Monterey St
- Year built
- 1961
- Construction
- WOOD
- Lot size
- 1.35 lot acres
- Property size
- 5,192 SF
- Zone code
- CT
- Property type
- 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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $7,260,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $6,910,000
- 6.5%
- $7,065,000
- 7%
- $6,540,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $6,775,000
- Geo Method
- $6,130,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $7,950,000
- Retail
- $7,705,000
- Mixed-Use
- $6,525,000
- Hospitality
- $7,380,000
- Educational
- $7,520,000
- Residential Income
- $6,170,000
- Energy
- $6,775,000
- Income-Based Land
- $6,750,000
- Food Service
- $7,205,000
Location Insight
- Map
- Local Demand
- City
- San Luis Obispo
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.65
- Latitude
- 35.2891
- CBSA code
- 42020
- CBSA name
- SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA
