1530 Howe Ave, Sacramento, CA 95825
176 Room Hotel | Sacramento, CA 95825 | $25,000,000 ($142,045/Room)
For Sale
Active
191 pictures
Asking Price $25,000,000
- Property Type
-
Hospitality
- Square Feet
- 111,584 SF
Listing Contacts
Tony DeLoney
Dusty Haeling
- Property Info
Property Overview
The Residence Inn at Cal Expo is a unique opportunity to convert an existing hotel into multifamily housing in California’s State Capital of Sacramento. The 176-room structure was built in 1986 and is ideally situated for conversion into housing based on its physical plant and location.
Given the hotel currently operates as an extended stay, each room is already equipped with a full kitchen complete with granite countertops, dishwashers, electric ovens/ranges complete with hood-mounted microwaves. Residents enjoy central HVAC and double pane windows. Closets and a full bathroom complete the living experience. Upstairs units even feature Julliette balconies. The loft units feature vaulted ceilings and a full second bathroom upstairs connected to the loft bedroom. An ideal location for a combo washer/dryer exists under the bathroom vanity. Page 18 of this offering showcases an opportunity pursued on other similar conversions whereby a partition is added to make the studio floorplans into one-bedroom floorplans.
The lobby lends itself to conversion into a huge, beautiful leasing office and clubhouse amenity. Adjacent to the community pool and showcasing bathrooms, a commercial kitchen, an upstairs loft and welcoming street facing leasing window, the savvy investor will recognize the opportunity.
Mechanically each unit has its own HVAC system; gas is a shared utility, and each unit has a separate electrical breaker that currently lacks an individual meter. Hot water is shared amongst multiple units.
Please call listing agent for more details and to arrange a tour.
Given the hotel currently operates as an extended stay, each room is already equipped with a full kitchen complete with granite countertops, dishwashers, electric ovens/ranges complete with hood-mounted microwaves. Residents enjoy central HVAC and double pane windows. Closets and a full bathroom complete the living experience. Upstairs units even feature Julliette balconies. The loft units feature vaulted ceilings and a full second bathroom upstairs connected to the loft bedroom. An ideal location for a combo washer/dryer exists under the bathroom vanity. Page 18 of this offering showcases an opportunity pursued on other similar conversions whereby a partition is added to make the studio floorplans into one-bedroom floorplans.
The lobby lends itself to conversion into a huge, beautiful leasing office and clubhouse amenity. Adjacent to the community pool and showcasing bathrooms, a commercial kitchen, an upstairs loft and welcoming street facing leasing window, the savvy investor will recognize the opportunity.
Mechanically each unit has its own HVAC system; gas is a shared utility, and each unit has a separate electrical breaker that currently lacks an individual meter. Hot water is shared amongst multiple units.
Please call listing agent for more details and to arrange a tour.
Property Details
- Class
- B
- Year Built/Renovated
- 1985/2001
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 197,327 SF
- Units
- 176
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