628 W Railroad Avenue, Shelton, WA 98584
- $1,275,000
Listing courtesy of Michael J Real Estate LLC. Selling Office: Michael J Real Estate LLC.
- Sold Price
- $1,275,000
- List Price
- $1,500,000
- Status
- SOLD
- MLS#
- 2252117
- Closing Date
- Jul 30, 2024
- Days on Market
- 8
Property Description
Located in Shelton, WA, this 32-unit motel comes with a restaurant space already occupied by paying tenants. The property includes a manager's quarters, ensuring efficient on-site management and oversight. This is a massive investment opportunity for anyone seeking a building with strong cash flow and significant upside potential. With strategic updates, this property can achieve higher rental rates and increased occupancy. Alternatively, consider converting the units to studios to maximize revenue. Don't miss out on this versatile, income-generating property with tremendous growth potential.
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Additional Information
- Community
- Shelton
- Style
- 64 - Hotel/Motel
- Year Built
- 1963
- Tax Year
- 2022
- Potential Terms
- Cash Out, Conventional
- Driving Directions
- Turn right off shelton way and see home on the left hand side
- Net Operating Income
- $248,943
- Gross Scheduled Income
- $450,134
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.