6208 W West Coast Highway, Newport Beach, CA 92663
Commercial property
Sold December 2023
Listing Agent: ALBERT LE (DRE #01468313) · Listing Office: LE INVESTMENT GROUP · Contact: 909-256-7889 · Bought with: ALBERT LE · LE INVESTMENT GROUP · MLS #IV23101301 · Source: CRMLS
About this commercial property
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.
Listing description from the December 2023 sale, as reported to CRMLS.
Sale history