2116 Adams Ave, La Grande, OR 97850
10 Room Hotel | La Grande, OR 97850 | $975,000 ($97,500/Room)
For Sale
Active
Asking Price $975,000
- Property Type
-
Hospitality
- Square Feet
- 4,032 SF
Listing Contacts
- Property Info
Property Overview
Exceptional investment opportunity in La Grande, Oregon! This property presents a opportunity of quality living quarters with rental units and an annual NOI of $61,176 and a current CAP rate of 5.56. Located in the heart of downtown La Grande on Highway 30, this property features a 9-unit motel along with a comfortable sized residential home to be used as owner occupancy or on-site manager. The main residence has 2 large bedrooms, 1 bath, laundry, 2 kitchens, a dining area, a living room, and an office. Each of the 9 motel units ranges from 200 to 400 square feet in size. Five of these units are equipped with kitchens, allowing guests have the option of preparing meals in the comfort of their own space. All units are furnished with 55" TVs. On-site amenities include a patio, laundry facility, ice machine, parking, and convenient storage. Currently, 7 out of the 9 units are generating a monthly income of $6,265, with the remaining 2 units undergoing renovation. This outstanding income stream provides a foundation for your investment with excellent returns. Situated right across the street from Safeway and a short distance to popular restaurants, shopping, parks, Eastern Oregon University, and Grande Ronde Medical Center. This central location ensures opportunity for 0 vacancies , making this investment an even more attractive proposition. **"Buyer to do their own due diligence on hotel + house total sq ft."
Property Details
- Class
- C
- Year Built
- 1950
- Stories
- 1
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 12,632 SF
- Units
- 10
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