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$ 2,750,000
Est. payment | /mo
0.74 Acres Lot
$ 2,750,000
Est. payment | /mo
0.74 Acres Lot
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
MLS Listing ID SN25260097
HOA Y/N No
Year Built 1900
Lot Size 0.740 Acres
Property Sub-Type Hotel/Motel
Property Description
Offered at $2,750,000, the Heritage Inn Express is a high-visibility and well-known 36 room hotel, located right in the heart of downtown Chico California. This fantastic investment provides a rare opportunity to acquire a property in the hospitality segment of the market with tremendous upside for an incoming owner/operator.
With its close proximity to not only the downtown area, but also Chico State University and Enloe Hospital, the property has the potential to draw from multiple different occupant demographics. Residents can easily walk to the many shops, well-known restaurants, Thursday night Farmer's Market, concerts in the park and other opportunities that the beautiful downtown area has to offer.
Many of the units have already been nicely updated with newer flooring, paint and fixtures and the property has been priced significantly below market to allow for remaining improvements to be completed.
***In addition to all of the benefits offered by the property itself, very attractive owner financing is also available, helping to ensure tremendous positive cash flow from day one.
With its close proximity to not only the downtown area, but also Chico State University and Enloe Hospital, the property has the potential to draw from multiple different occupant demographics. Residents can easily walk to the many shops, well-known restaurants, Thursday night Farmer's Market, concerts in the park and other opportunities that the beautiful downtown area has to offer.
Many of the units have already been nicely updated with newer flooring, paint and fixtures and the property has been priced significantly below market to allow for remaining improvements to be completed.
***In addition to all of the benefits offered by the property itself, very attractive owner financing is also available, helping to ensure tremendous positive cash flow from day one.
Location
State CA
County Butte
Interior
Fireplace No
Laundry See Remarks
Building
Lot Description Rectangular Lot, Street Level
Story 1
Water Public
Others
Tax ID 004283010000
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Owner Will Carry
Listing Terms Cash, Cash to New Loan, 1031 Exchange, Owner Will Carry
Special Listing Condition Standard
Listed by Dan Bosch Re/Max of Chico
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Jennifer Lucero
Broker Associate | Lic# 01956495