The hotel under 70 years "ground lease" remain that have 200 room that already
open for 130 room and 30 room waiting for license and other 40 room still under
re-model and Restaurant can open any time and Bar's license that have to apply again
net income for 2007 approx $250,000. that not including income for Restaurant;
Bar; 70 room so projection net income $500,000. that after 100% open for business that projection cap rate shall be 19%, if base on 130 room for 2007 net
income the cap rate is 8% and next door other motel also for sale $1,980,000.
also under 70 years Ground Lease remain same owner, if package sale 4.88M for two hotel, and seller pay 5% to selling agent that subject to close escrow.
and you can see the web site www.thekingstoninn.com
and please fax or emial your business card or your contact information same as
business card to 650-992-5387 fax or 650-284-2138 efax for more information e-mail: the711realty@yahoo.com or call 650-757-1678 j. chiang
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