Sold Price:

$6,500,000

Cap Rate:

5.38%

Price/SF:

$523.86

Price/Unit:

$118,182

Gross Building Area:

3,727 SF

Lot Size:

10,521 SF

Status:

Closed

Submarket:

Central

Property Type:

Apartments

Strategy:

Value Add

The Bove Group is pleased to present 410 Elm Street, San Diego, California 92101. The two-story, 55-room Hotel Occidental is the true definition of hybrid, combining modern amenities and stylish decor with old-world charm and appeal and the functional simplicity of European lodging, creating a practical, comfortable, and affordable solution for both overnight and extended-stay guests. A complete redesign, in 2005, of this 1920’s classic now gives way to a contemporary Euro-style hotel that boasts four extremely versatile room types fitting for every kind of guest, from the traveling conventioneer, the international student, to the young family enjoying a San Diego vacation.

The hotel’s remodeled interior completely transformed its classic mission style into sleek, comfortable spaces with many contemporary design elements. Amenities include opening windows, central air (5 zones), two 20 amps breakers in all the rooms, high-speed broadband internet, new carpeting, private shower and baths, on-site laundry, and parking, as well as housekeeping room with industrial washer and dryers and storage. The cozy guestrooms are minimally furnished, with custom built-ins, containing a sink, microwave, and mini-fridge, TVs with DVD players, central air conditioning, and complimentary high-speed wireless internet access. The building has reinforced steel framing, upgraded electrical and plumbing, new roof, and reinforced parapets.

Listed By:

Aaron Bove
Senior Vice President, Investments
aaron.bove@marcusmillichap.com
(858) 373-3237