Inn at Schoolhouse CreekLittle River, CA
- Main (530) 264-7149
SOLD! A 17 guest-room cottage style inn with panoramic views of the Pacific Ocean
This Inn sits above the Pacific Ocean three miles from town of Mendocino. The net income was $366,000 in 2010 with $933,000 in gross revenue. Offered at 10.1 cap rate. Owner and bank financing is available with $500,000 down for a qualified buyer. Buyers estimated annual debt will allow for over $100,000 potential profit at 2010 net income and gross income increased first quarter 2011 indicating the business is starting to regain 2007 and 2008 income levels of over a million in sales..
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 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. They have recently re-painted all the guest cottages and buildings. The sellers have a Use Permit for all 17 guests. The Planning Commission indicated their approval of 3 additional guest rooms if requested. Some septic system improvement may be necessary but capacity exists for 20 units.
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 $3,600,000