Closed
6208 W West Coast Highway
Newport Beach CA, 92663
$19,000,000
$832.82 per sqft
Closed
22,814 sqft
Commercial
Built in 1970
Listed by ALBERT LE with LE INVESTMENT GROUP 909-256-7889
Investment Highlights; Seller Financing available at 5.50% interest only with 50 % LTV. Attractive 7.54% Cash-on-Cash return with seller financing.
ProForma CAP Rate of 6.68%. Current CAP Rate of 6.52% / 10-Year Corporate Backed Lease with (2) 5-Year Options to Extend / Recent Capital Improvements Exceeding $225,000+ /
Master-leased boutique hotel located in Newport Beach, CA. The hotel offers 47 rooms with a range of amenities. The asset is situated along the Pacific Coast Highway (90,000+ VPD), providing guests with stunning views of the ocean and easy access to the beach. The hotel is in a prime location for exploring Newport Beach, with a variety of shops, restaurants, and attractions located nearby.
IV23101301
MLSⓇ ID
June 8, 2023
Listed
May 9, 2024
Updated
Map
6208 W West Coast Highway
Newport Beach CA, 92663
Interior Features
Total Stories
4
Laundry Description
Inside
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.46 Acres
Lot Features
Corner Lot, Near Park
Other Property Details
Area Name
N26 - Newport Coast
Days on Market
155
Garage
No
View
No
County
Orange
Water Source
Public
Pool
No
Waterfront
Yes
Zoning
CV
Buyer Agency Compensation
0.5%
Listing History
Date | Event | Price |
|---|---|---|
12/8/2023 | Price Change | $19,000,000 -5% |
12/8/2023 | Sold | $19,000,000 |
11/28/2023 | Pending | — |
7/6/2023 | Price Change | $19,950,000 -14% |
Listing Contact: 909-256-7889
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/9/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/9/2024 at 12:12 PM UTC