Luxury B&B on Unmatched Coastal Site in the Heart of the Monterey Bay
Listing ID: HOT-CIM$3,095,000
Cash Flow: 240000
Monterey, CaliforniaHave a Question?
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This historic Bed and Breakfast Inn is located in the heart of the Monterey Bay only 16 miles north of Monterey and 25 miles south of Santa Cruz. This is an exceptional opportunity to buy a special piece of property on the coast right on a protected wildlife preserve adjoining the Monterey Bay Marine Sanctuary. Due to increasingly restrictive rules, nothing will ever again be built this close to the protected area – this is a truly unique site. The Inn is rated as 4+ stars on many travel sites, including TripAdvisor, for which it earned their Certificate of Excellence award.
The Inn has two buildings with a total of 10 luxury guest rooms each with a different theme and decor. The beautiful and fully renovated historical building has four charming guest rooms, a comfortable common area, a bright dining room, and a commercial kitchen. The second building was recently built and has six contemporary rooms, each with an unobstructed 180-degree view of the estuary.
The third building has a massage room, garage, and innkeeper’s quarters with full bath on the ground floor. On the second floor there is a completely renovated, beautiful 1000 sq. ft. 3-bedroom 2-bath residence with a spectacular ocean view. Normally B&B owner quarters are simply a few rooms in the back of the guestrooms. With this property you are getting a wonderful fully private coastal home AND a great B&B. Alternatively the residence could be a source of long-stay rental income.
The grounds are attractively landscaped with over 200 succulents and with the wetlands as its backdrop, providing the most serene and romantic atmosphere. The property is the perfect venue for weddings, family reunions, and corporate events. The entire Inn is exquisitely furnished and maintained in first-rate condition. An ABC Type 70 license allows you to serve alcoholic beverages to guests and for events.
Revenues and cash flow have been growing steadily, and the Inn is reliably profitable, now enjoying a 7.3% cap rate. The business growth outlook is strong. The current owner lives some distance away and has no previous hotel management experience but he has invested time and resources into continuous improvement. A new owner with appropriate skills and focus could really build on this foundation.
The owner is selling because he is investing time and money in other business interests that will require his full time attention. He desires to sell the property, but he believes in the future potential of the property and he is open to ideas. If you would be an exceptionally strong B&B operator but not yet able to finance an outright purchase, the owner would consider proposals such as taking an equity stake now and completing the purchase at a later point, lease with option to buy, etc. You will still need to make a cash injection and have a credible plan to ultimately complete the purchase, but if you have the right qualifications we can explore creative options.
Please do not visit the premises or contact employees. All visits must be coordinated by us.
Live a beautiful coastal lifestyle and have the Inn carry all the costs. Or focus on market positioning and performance improvement to generate a great return. Either way this is a once-in-a-lifetime opportunity!
For more information email us at [email protected] or call us today for additional information (831) 625-5581.