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

May 25, 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


Buyer Agency Compensation

0.5%

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 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:22 AM UTC

 

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