400 Ocean Ave, Ferndale, CA 95536
- Investment properties
- 0.13 lot acres
Current Use by Public Records
- VI Restaurant / Restaurant
- Silva's Fine Jewelry / (Bike/Boat/Book/etc) Store
- Victorian Inn / Hotel & Motel
- Tesla Destination Charger / Electric Vehicle Charging Station
Property Details for 400 Ocean Ave
- Lot size
- 0.13 lot acres
- Zone code
- C-2-D
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 031-101-013-000
- APU
- 31101013000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 2, 2013 | — | Lowell Ellis Daniels | Lowell Ellis Daniels | Intrafamily Transfer · related | $1.2M · Redwood Capital Bank |
| Dec 19, 2007 | — | Daniels Lowell & Oaks J Trust | Silva Oaks Ents | Grant Deed | $1M · Tamalpais Bank |
| — | — | Daniels Lowell & Oaks J Trust | — | Deed Of Trust · related | $100k · Tamalpais Bank |
Description
This exceptional investment opportunity presents two charming hotels in Ferndale, California's historic downtown, totaling 24 guest rooms. The Victorian Inn boasts 13 rooms, a restaurant with a full liquor license, a conference room, and a large, adaptable banquet/retail space (currently vacant). Redwood Suites offers 11 guest rooms, many with full kitchens, ideal for extended stays. Situated on Ocean Avenue, approximately half a block apart, these properties benefit from Ferndale's thriving tourism, fueled by its Victorian architecture, proximity to the ocean and Redwood forests, and vibrant local shops and restaurants. The combined properties sit on 0.62 acres and encompass 24,957 square feet. Based on 2022 figures, the current NOI is $234,753, representing a 10.21% cap rate at the asking price of $2,300,000. Pro-forma NOI is projected at $318,024, yielding a 13.83% cap rate, highlighting significant upside potential. The properties are priced at 2.7-3.9x room revenue (2021-2023). Potential fixed-rate financing is available with a 20% down payment. This offering presents a rare chance to acquire a well-positioned hospitality portfolio in a desirable location with substantial growth prospects. The APN numbers are 031-101-012 & 013, 031-032-022.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Ferndale
- County
- Humboldt
- State
- California
- Longitude
- -124.265
- Latitude
- 40.5754
- CBSA code
- 21700
- CBSA name
- EUREKA-ARCATA-FORTUNA, CA MICROPOLITAN STATISTICAL AREA
