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Hermosa Hotel & Cottages

$11,500,000

131 Metropole Avenue, Avalon, CA 90704

Active
Last Updated: 09/27/2024

0.62 acres

Lot Area

72

Units

Details:
Lot Area:    0.62 acres
Units:    72
Year Built:    1896
Floors:    3
Year Last Renovated:    2020
Highlights:
  • Recently Restored Property with Potential for Conversion Into a Boutique Hotel, Condominiums, or Multifamily Units
  • Additional Income From an On-Site Leased Retail Space
  • High RevPAR Growth Market
  • Irreplaceable High-Traffic Location in an Extremely High Barrier to Entry Market
  • Located on Catalina Island, Which Brings More Than 1 Million Visitors Per Year
  • Nearby Attractions Include the Green Pleasure Pier, Catalina Island Casino & Avalon Theatre, Lover’s Cove, Catalina Island Museum, Beaches, Tours and More
Description:

Property Tours
Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.

Marcus & Millichap has been chosen to exclusively market for sale the Hermosa Hotel and Cottages, located in the charming town of Avalon on Catalina Island. This offering provides a rare opportunity for buyers to acquire a well-established hotel with upside potential through redevelopment into an upscale boutique hotel, luxury condominiums, or multifamily apartment rentals. Our comprehensive analysis outlines several acquisition scenarios, showcasing the cash flow potential of various redevelopment options.

Currently operating as a boutique hotel and apartment rentals, the property features 72 units spread across multiple buildings, including hotel rooms, ocean-view suites, cottage style apartments. The Hermosa Hotel also benefits from additional income generated by an on-site retail space, further enhancing its investment appeal. With sweeping island and beach views, this is an unparalleled opportunity to capitalize on a premium location and create a unique, high-end development on Catalina Island.

Click Here For Offering Memorandum: https://allredhotelgroup.com/?propertyId=AvalonCAHermosaHotel&safari-private=false

Click To Subscribe To Our Mailing List: https://allredhotelgroup.us21.list-manage.com/subscribe?u=29d9d89c10137c6b769da576e&id=19e1854d86

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