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6045 Pine Street

Wrightwood, CA 92397
  • $3,999,999
  • STATUS: Active
  • ON SITE: 34 Days
  • ID#: WS21235276
UPDATED: 36 min ago
$3,999,999
  • 0
    BEDS
  • 0.49
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1964
County:

School Ratings & Info

Listing provided courtesy of Lance Yabut of Elite Realty Services

Description

A rare opportunity to own an award-winning, turn-key, managed Hotel, Bar, and Event Venue just one hour from Los Angeles in the heart of the Downtown district of Wrightwood, CA. Year over year increasing profitability, even during COVID-19 pandemic with value added opportunity. This unique property allows you to enjoy the serenity of nature with the modern amenities of a luxury hotel. Once the historic Pines Motel, Grand Pine Cabins now features a selection of multi-room cabins, suites, and hotel rooms for a total of 13 guest doors w/22 rooms that have been fully renovated and tastefully decorated with inspirational artwork and designer furniture. Amenities include drive-up parking, Tesla EV charging, high-speed WIFI, smart TVs, guest laundry, contactless check-in/check-out options, in-room Keurig coffee makers, mini bars, mini fridge and microwaves. There is an extensive back of house which includes a back office, manager apartment, housekeeping and laundry center, multiple storage buildings, service corridor and secure liquor storage to support the uncompromising personalized service that GPC staff provide.2021 pro forma gross $600k+ growing to $800k+ in 2023. Highest demand dates command rates of $800+/night. One of the highest performing hotels year-round in all SB county with an ADR double SB county average. Top-rated on Hotels.com, Expedia, Trip-Advisor and Yelp! Just 3 miles from Mountain High Ski Resort and 5 miles from the PCT. As one of the rest stops on the Pacific Crest Trail, April, May and June are extremely high volume. Tourists with families frequent during the summer. Spring and Fall are peak wedding season. In Winter, Wrightwood is a snow-filled wonderland and nearly every weekend is oversold at premium pricing. This exquisite hotel uniquely encapsulates the back to nature experience, promising an unforgettable stay of sheer relaxation, and comfort during all seasons.The "Grand Pine" concept was brought to life by visionaries at Sierra Blue Ventures with a 2-year renovation completed in 2021. Recently completed construction for additional value added revenue in 2021: indoor/outdoor event rental spaces, artisan full service indoor/outdoor bars and guest laundromat. Type 71 Liquor license is included with sale. The new multi-use meeting room is also used for co-working space and a Yoga studio. Additionally: 2 food truck rental spaces w/outdoor dining space for more value added future rental revenue.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-29T20:28:31.493. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RGA Homes | Coldwell Banker Realty. Licensed in the State of California, USA.
www.rgahomes.com/homes/122732157
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6045 Pine Street Wrightwood, CA 92397

  • Price: $3,999,999
  • Status: Active
  • On Site: 34 Days
  • Updated: 36 min ago
  • ID#: WS21235276
0
Beds
0
Baths
0
½ Baths
0.49
Acres
1964
Built
Neighborhood:
WRWD - Wrightwood
County:
San Bernardino
Area:
WRWD - Wrightwood
Property Description
A rare opportunity to own an award-winning, turn-key, managed Hotel, Bar, and Event Venue just one hour from Los Angeles in the heart of the Downtown district of Wrightwood, CA. Year over year increasing profitability, even during COVID-19 pandemic with value added opportunity. This unique property allows you to enjoy the serenity of nature with the modern amenities of a luxury hotel. Once the historic Pines Motel, Grand Pine Cabins now features a selection of multi-room cabins, suites, and hotel rooms for a total of 13 guest doors w/22 rooms that have been fully renovated and tastefully decorated with inspirational artwork and designer furniture. Amenities include drive-up parking, Tesla EV charging, high-speed WIFI, smart TVs, guest laundry, contactless check-in/check-out options, in-room Keurig coffee makers, mini bars, mini fridge and microwaves. There is an extensive back of house which includes a back office, manager apartment, housekeeping and laundry center, multiple storage buildings, service corridor and secure liquor storage to support the uncompromising personalized service that GPC staff provide.2021 pro forma gross $600k+ growing to $800k+ in 2023. Highest demand dates command rates of $800+/night. One of the highest performing hotels year-round in all SB county with an ADR double SB county average. Top-rated on Hotels.com, Expedia, Trip-Advisor and Yelp! Just 3 miles from Mountain High Ski Resort and 5 miles from the PCT. As one of the rest stops on the Pacific Crest Trail, April, May and June are extremely high volume. Tourists with families frequent during the summer. Spring and Fall are peak wedding season. In Winter, Wrightwood is a snow-filled wonderland and nearly every weekend is oversold at premium pricing. This exquisite hotel uniquely encapsulates the back to nature experience, promising an unforgettable stay of sheer relaxation, and comfort during all seasons.The "Grand Pine" concept was brought to life by visionaries at Sierra Blue Ventures with a 2-year renovation completed in 2021. Recently completed construction for additional value added revenue in 2021: indoor/outdoor event rental spaces, artisan full service indoor/outdoor bars and guest laundromat. Type 71 Liquor license is included with sale. The new multi-use meeting room is also used for co-working space and a Yoga studio. Additionally: 2 food truck rental spaces w/outdoor dining space for more value added future rental revenue.
Exterior Features

Construction Materials Wood Siding Lot Features 21-25 Units/AcreDrip Irrigation/BubblersLandscapedNear ParkNear Public Transit Open Parking Spaces 19 Parking Total 19 Roof Composition Sign On Property YN No

Interior Features

Appliances DryerWasher Cooling ElectricEnergy Star Qualified EquipmentHigh EfficiencyZoned Cooling YN Yes Heating Fireplace(S)Natural GasWall FurnaceZoned Heating YN Yes

Property Features

Additional Parcels YN No Business Type Bar/Tavern/LoungeCommercialFood & BeverageHotel/MotelHospitalityLaundromatLive/WorkMulti-TenantRetail Cap Rate 10.59 Common Interest None Community Features Park Current Financing None Electric Electricity - On Property220 Volts Electric Expense 4843 Gross Scheduled Income 676797 Insurance Expense 6611 Laundry Features Common AreaWasher HookupGas Dryer HookupInside Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange Net Operating Income 423601 Number Of Units Leased 13 Operating Expense 192332 Property Sub Type Hotel/Motel Security Features Carbon Monoxide Detector(S)24 Hour SecurityResident ManagerSmoke Detector(S) Special Listing Conditions Standard Supplies Expense 27213 Utilities Electricity ConnectedNatural Gas AvailableWater Connected Water Sewer Expense 1927 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-29T20:28:31.493. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RGA Homes | Coldwell Banker Realty. Licensed in the State of California, USA.
 
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RGA Homes | Coldwell Banker Realty
3790 Via De La Valle Suite 301
Del Mar CA, 92014
Listing provided courtesy of Lance Yabut of Elite Realty Services