Specializing in the Sale of California Hotels, Motels, Inns, B&B's, and Resorts
Mendocino County Coastal Portfolio
7051 CA-1 & 7533 N CA-1
Little River, CA
SOLD! Lodging Brokers Network is proud to be the exclusive listing broker of both the Inn at Schoolhouse Creek and the Cottages at Little River Cove located in Little River, California. Nearby destination tourist locations include the village of Mendocino approximately 6 minutes away, and the city of Fort Bragg approximately 20 minutes away.
The two properties are being offered for sale as a package for $6,700,000. The Inn at Schoolhouse Creek can be sold separately for $3,900,000, but the Cottages at Little River Cove cannot be sold separately. Both properties are located on the east frontage line of Highway 1, overlooking the Pacific Ocean, and are approximately a half mile down the road from each other. The two properties are operated as “sister” properties and can be operated separately or together. The Inn at Schoolhouse Creek features 17 guestrooms, managers quarters, a spa yurt and a vacant restaurant on approximately 6 acres. The Cottages at Little River Cove features 10 guestrooms on 2.24 acres.
Both properties feature ocean views and depending on the unit various amenities include kitchens, spa tubs, hot tubs, fire pits, BBQ areas, and fireplaces. This unique coastal portfolio opportunity has performed very well during Covid and is being offered at a combined adjusted cap rate of 14.5% on July 2021 trailing twelve-month net operating income. Potential upside opportunities include activating both a currently unused spa yurt as well as vacant restaurant space currently used as a guest common area, and further development on unused land to increase the total number of guestrooms or expand the property amenities.
Contact Kathryn Proctor at 415-606-4587 for more information. Do NOT contact manager or employees. Appointments made through Listing Broker ONLY.
For more information, please download, complete, and return the Confidentiality Agreement by clicking the button below.