Sold
Closed
6208 W West Coast Highway
Newport Beach CA, 92663
$19,000,000
$832.82 per sqft
Sold
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
October 11, 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
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
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Data last updated on 10/11/2024 at 4:15 PM UTC