205 Wave Dr Whitethorn, CA 95589-9158

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.