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Financial Information

Asking Price: $4,100,000.00
Terms: Owner will negotiate large carry-back note and assist buyer with assumption of low-interest first deed loan with minimum down payment of $500,00 or higher
Occupancy Rate: 73.5%
Revenue/Year: $1.048,000 (2008)
Average Daily Rate: $200
Links

Inn's Website Link
Property Information

Number of Guest Rooms: 17 10 of the 17 guestrooms are cottages;15 have ocean views
Number of Guest Room Baths: 18
Property Address:
7051 N. Hwy 1
Property Status:
Currently is a B&B
Owners' Quarters: Yes One bed-room apartment style quarters
Year Built: 1934 Various buildings were constructed at different times including recently
Year of last renovation: 2008 Renovations have occurred constantly since mid ninties
Years run as B&B: 54 This inn was originally one of the first inns on the north coast
Square Footage: 9,100 The inn includes 15 buildings including the historic farmhouse
Acreage: 9.30
Restaurant: No The kitchen was used once for a restaurant and a restaurant could be re-established
Natl. Register of Historic Places: No
Point at the Point at question marks above for more details. marks above for more details.
Contact Information

Greg Koert, Broker
Palmer Koest Company
18047 Alexandra Way
Grass Valley, CA 95949
Email - greg_koert@yahoo.com
(530) 274-0337 - Phone #
(530) 274-0277 - Fax #

BBOnline.com is not a broker or agent for this property. All of the information displayed has been provided by the owner/innkeeper/realtor.
Photo Gallery
Inn at Schoolhouse Creek - Little River California

Front view
Inn at Schoolhouse Creek
Little River California

Extremely successful profitable ocean view boutique inn and resort priced to allow new owner an excellent return
Photo Gallery
Inn at Schoolhouse Creek - Little River California

guestroom
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This inn sits above the Pacific Ocean in Little River, California three miles from town of Mendocino. It has a profitable operating history going back nearly 18 years through three different ownerships.  Fifteen guest rooms have panoramic ocean views. Ten guest rooms are coveted cottage style units that provide maximum guest privacy and relaxation.

The inn’s 9 acre site and various types of accommodations cater to romantic, family, pet owners, and small group travelers.  This flexibility has allows this inn to continue to be one of the most successful inns in northern California. The inn has a unique and successful spa operation that utilizes a yurt type structure at the back end of the property where ocean views are magnificent.  

The owners program of room renovation included new décor, furnishings, beds and linens for every guest room on the property over the past five years. They have recently re-painted all the guest cottages and buildings.  Maintenance in general is current requiring no new owner ‘catch up’ investment.  The sellers also recently upgraded the septic system allowing 42% additional capacity and updated their Use Permit for all 17 guests. The Planning Commission indicated they will approve 3 additional guest rooms if requested. This inn provides a new owner both profitable operations and a wonderful ocean-coast lifestyle. Contact Greg Koert, listing agent for a detailed sales prospectus for this property including historic financial statements.

Listed for $4,100,000.00


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