1521 1st Ave. NW#A

Highlights:

• Area Amenities: Area Hiking
• Sewer: City
• Water: City Water

Description:

Outstanding investment opportunity featuring a recently repositioned hospitality asset with strong in-place income and future upside. Originally constructed as a motel in 1954, the property was thoughtfully converted in 2025 into 23 Single Room Occupancy (SRO) units designed to accommodate both short-term and long-term tenants—creating diversified revenue streams and consistent demand. The property offers 23 private units, each with its own bathroom, and four units are equipped with convenient kitchenettes. Since commencing operations in October 2025, occupancy has remained strong, demonstrating solid market demand and operational stability. With a projected Net Operating Income of $183,000, this asset presents an attractive 7.5% capitalization rate. Exterior painting is currently underway. Seller financing is available for qualified buyers: $ 1,000,000 down payment; 7% interest rate; 5-year balloon. In addition, the Seller will provide a first-year rent guarantee equal to 80% of the property’s rent roll, adding an additional layer of security for investors. The current property management team will remain in place throughout the term of the seller financing. Cash Purchase Incentive: A 5% discount is available for an all-cash transaction. The attached Offering Memorandum provides additional financial details and supporting information.

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Listing ID: c26e758d-05fc-4cc9-af77-fbeb04a78aff

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