400 Ocean Ave Ferndale, CA 95536

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

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.

Location Insight

City

Ferndale

County

Humboldt

State

California

Longitude

-124.265

Latitude

40.5754

CBSA code

21700

CBSA name

EUREKA-ARCATA-FORTUNA, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments