The Agency The Agency

Seven Gables Inn

Pacific Grove, CA 93950
sold
Last Listed Price $16,500,000
Property Type Multi-Family
Beds 27
Baths 31

Property Description

HIGHLIGHTS
Unobstructed views of the Pacific Ocean, Monterey Bay and the coastal mountains beyond.

Ultimate Monterey Bay Ocean View Inn

Currently operating as a boutique hotel, Seven Gables consists of 7 separate structures totaling 25 rooms.

Property is comprised of 4 separate APNs allowing flexibility for potential use.

INVESTMENT SUMMARY

PROPERTY INFORMATION:

**The Property is located on a point of land along Ocean View Blvd., a two- lane road running along the entire coastline of Pacific Grove.

**The entire coastline of Pacific Grove on the ocean side of Ocean View Blvd. is zoned open space and will never be developed preserving the ocean views from the Property.

**Monterey Bay has been designated a National Marine Sanctuary with strict rules to help ensure that the water and wildlife will be protected.

**The location affords ocean views from all 25 rooms in every building on the Property.

**Every bedroom has a full, in-room bathroom.

**Oceanfront dining room to seat up to 40.

**Full commercial style kitchen on site.

**2 Full commercial laundry facilities on site.

**Conference facilities for large gatherings.

**Unlimited on-street parking with no time limit plus additional off-street parking spots.

**All the buildings on the Property have been fully restored to include updated foundations, new wiring, new plumbing, new roofing, new windows and new interior appointments.

**All the work was completed with the necessary building permits.

**All the buildings are in excellent condition.

**Two of the buildings on the Property, the Beach House and Sea View Cottage, have fire sprinklers installed.

**The entire Property has monitored entry alarms in the common/working areas as well as a monitored smoke alarm in every room and location throughout the buildings.

**The exteriors of the Property are fully landscaped and include a stream feature next to the Beach House as well as two additional fountains on the property.

*A programmable drip and sprinkler system irrigate all garden areas of the Inn.
**Fireplaces-Gas or Electric.

**Frontage: 133'+- on Ocean View Blvd., 164'+- on Grand Ave. and 161'+- on Fountain Ave.

**Zoning: R-3-PGR

***Cap Rate 6.30%

***Property Type: Hospitality

***Property Sub-type: Hotel

***Zoning Description: Hotel

***Building Class: A

Agent Information

Founding Agent, Carmel - Pebble Beach (831) 402-7174
The Agency

Property Specifics

Property Type: Multi-Family
Estimated Sq. Foot:
15,100
Lot Size:
0.48 ac.
Price per Sq. Foot:
$1,093
Building Units: N/A
Building Stories: 3
Pet Policy: N/A
MLS ID: a0U0Z00000rMQfzUAG

Building Amenities

N/A

Unit Amenities

parking central maids yes

Views & Exposures

OceanWhite Water

Location & Transportation

Other Property Information

Summary

General Information
  • Year Built: 1886
  • Architectural Style: Cottage
Parking
  • Total Parking Spaces: 8
  • Parking Features: Parking Garage, Parking Parking For Guests - Onsite

Interior and Exterior Features

Interior Features
  • Living Area: 0.35 ac.
  • Total Bedrooms: 27
  • Full Bathrooms: 31
Exterior Features
  • Exterior Features: Detached Guest House
  • View: Ocean, White Water
Structure
  • Building Name: Seven Gables Inn
  • Building Features: 25 Guest Rooms, 68.7% Repeat Visitors, 7 Separate Structures Totaling, 25 Rooms, Ocean Front
  • Stories: 3

Property Information

Lot Information
  • Lot Size: 0.48 ac.
Utilities
  • Cooling: Central
  • Heating: Central

Estimated Monthly Payments

Monthly Total $79,141
Monthly Taxes N/A
Interest 6.00%
Down Payment 20.00%

Mortgage Calculator

Monthly Mortgage Cost $79,141 Monthly Charges $0 Total Monthly Payment $79,141
Calculation based on:
Price: $16,500,000
Charges: $0 * Additional charges may apply

Similar Listings

Building Information

Building Name: Seven Gables Inn
Property Type: Multi-Family
Building Type: N/A
Pet Policy: N/A
Units: N/A
Stories: 3
Built In: 1886
Sale Listings: 0
Rental Listings: 0
Land Lease: N/A
All information is deemed reliable but not guaranteed. Copyright 2024 The Agency. All rights reserved.
Last checked: Apr 25, 2024, 8:12 AM UTC
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