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Anchor Inn (Morro Bay)

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  • Location: The Inn is located North of San Luis Obispo in downtown Morro Bay, one block from the Morro Bay Harbor. The Harbor has fine seafood restaurants, several picturesque boat ramps and good quality shops offering local and regional items for sale and some high quality art.
  • Guest rooms: There are 33 units: three kings, twenty one queens, eight double queens plus one double. All rooms have new tile floors in the bathrooms, fresh paint and new drapes.
  • Amenities: Ten rooms have microwave/refrigerators. All rooms have high-speed cable and wifi access, telephones (Mitel SX 50), computerized reservation system, guest laundry facilities. Continental Breakfast area is located in the lobby. All units have thermostat controlled electric heat.
  • Extras: Within the past three years, all plumbing was redone including new pedestal sinks, faucets, and new hot and cold water pipes. Water heaters are two years old. The entire parking lot was replaced with new asphalt two years ago. New signage and name change with complete exterior paint gives the Inn a modern, clean appearance and the double wide covered entry enhances the front.
  • Description: Three connected two-storey frame/stucco buildings were built in the late sixties. All buildings are on concrete slabs.
  • Ownership: Owners purchased the hotel 17 years ago.
  • Asking Price: $3,500,000
The close proximity to the ocean makes this an ideal Inn to dramatically increase rates and occupancy. Four hotels (in substantially poor condition by comparison) have sold in the area for $95k to $103k per unit. The Hotel directly across the street has an annual occupancy in the 70% range and an average rate of more than $75.
Julian Bills: Broker, DRE # 00532752
cell/tel: (831) 212-4526 -  email@julianbills.com
Page last modified: February 25th, 2008

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