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Knights Inn (Grover Beach)

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  • Location: Fifteen minutes on Hwy 101 from San Luis Obispo, next to Pismo Beach and fifteen minutes to Morro Bay. Five minutes off Coast Highway 1 in central California, on the main street of Grover Beach, five blocks from the only sand beach in California that allows vehicles to drive upon the beach. Amtrak station is a five-minute walk and the neighborhood offers many new restaurants, shops and tourist attractions.
  • Guest rooms: 45 units, two buildings with two-storey configuration on two separate lots. Ample parking. The rooms all have telephones (SX50), cable, color televisions, some refrigerators and microwaves.
  • Amenities: Two large lots in the middle of a neighborhood that is undergoing a complete gentrification.
  • Extras: Ample one bedroom living quarters with full kitchen, living room and dining room.
  • Description: Frame with wood siding in good condition; recently painted. Individual gas wall heaters are in each unit.
  • Age: Built approximately 1988 and has many new bathrooms.
  • Opportunity: An absentee owner in Monterey purchased the hotel more than ten years ago. The owner is seldom there, spending his time operating his three motels in Monterey. The property has deferred maintenance, needs carpet, drapes, beds and a facelift. With these in place and hands on management, the income should go up to the level of most of the other properties in the Grover Beach area; i.e. at least $10,000 per unit. With seller financing, the payments for a new owner can be tailored to meet the time required to improve the income.
  • Land: Approximately one and one quarter acres.
  • Asking Price: $2,750,000.
Bonus: Seller Finaning.
Julian Bills: Broker, DRE # 00532752
cell/tel: (831) 212-4526 -  email@julianbills.com
Page last modified: August 14th, 2004

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