1301 Washington Ave, Titusville, FL 32780
9 Room Hotel | Titusville, FL 32780 | $1,175,000 ($130,556/Room) | 10.73% Cap Rate
For Sale
Active
Asking Price $1,175,000
- Property Type
-
Hospitality
- Square Feet
- 4,051 SF
Listing Contacts
Rafael Bolivar
- Property Info
Property Overview
Immaculately maintained nine-unit motel plus a single-family home, located near downtown Titusville, and just steps from the Indian River. The part-time, live-in manager makes daily operations easy. This investment features eight themed guest rooms, a high-end, finished manager's apartment, an office, a coin-operated laundry facility, and a housekeeper's storage room. The live-in manager is compensated with a rent-free apartment. The brick paver parking lot, tropical landscaping, and patio seating make this an attractive place to stay.? Units are primarily rented weekly and monthly, by contract workers and local construction tradespeople, averaging 90% occupancy at $400 per week.
Included in this opportunity is a concrete block, single-family home on its own parcel, located behind the motel and rented for $2,000 per month. On-site laundry and vending machines bring in an additional $50-$75 per week, not reflected in our pro-forma.
Guests enjoy a world-class view of SpaceX rocket launches. In addition, Downtown Titusville is thriving, and offers live theater, quaint restaurants and breweries, boutique shops, bike trails, and a public boat ramp. Playalinda Beach is a quick ten-minute drive away. Walk into this turn-key property and generate a 10% yield, from day one.
Seller Financing is available for qualified buyers with 30% down.
Included in this opportunity is a concrete block, single-family home on its own parcel, located behind the motel and rented for $2,000 per month. On-site laundry and vending machines bring in an additional $50-$75 per week, not reflected in our pro-forma.
Guests enjoy a world-class view of SpaceX rocket launches. In addition, Downtown Titusville is thriving, and offers live theater, quaint restaurants and breweries, boutique shops, bike trails, and a public boat ramp. Playalinda Beach is a quick ten-minute drive away. Walk into this turn-key property and generate a 10% yield, from day one.
Seller Financing is available for qualified buyers with 30% down.
Property Details
- Class
- C
- Year Built
- 1955
- Stories
- 1
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 9,148 SF
- Units
- 9
Highlights
- Steps from the water.
- US-1 frontage
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