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La Collage Inn Motel 609 E 1st Ave

12 Room Hotel Odessa, WA 99159 £478,240 (£39,853/Room) 6.39% Net Initial Yield

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Executive Summary

**$75,000 PRICE REDUCTION** Presenting an exceptional investment opportunity at 609 East 1st Avenue, Odessa, WA. This 5,220 SF building features 12 rooms, ranging in size from 221-255 SF. Originally built in 1952 and thoughtfully renovated in 1989, this property showcases a solid foundation with potential for further enhancement. With a track record of successful operations and room for expansion, this property stands as a prime asset for those looking to capitalize on the hospitality and economy sectors. New roof and hot water heater in 2023. Updated electrical panel in 2022. North facing parcel was originally permitted and approved for RV sites in 1999, but current ownership never moved forward with the plans. Lots of potential to this property. Only hospitality option in all of Odessa.

La Collage Inn Motel FLYER

Operating and Financials

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	-	-
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	£131,261	£25.15
Taxes	-	-
Operating Expenses	-	-
Total Expenses	£100,705	£19.29
Net Operating Income	£30,556	£5.85

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	-
Annual Per SF	-

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	£131,261
Annual Per SF	£25.15

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	£100,705
Annual Per SF	£19.29

Net Operating Income
Annual	£30,556
Annual Per SF	£5.85

Property Facts

Price	£478,240	Building Size	5,220 SF
Price Per Room	£39,853	No. Rooms	12
Sale Type	Investment	Number of Floors	1
Net Initial Yield	6.39%	Year Built	1952
Property Type	Hospitality	Parking Ratio	3.83/1,000 SF
Property Subtype	Hotel	Corridor	Exterior
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	2.00 AC

Price	£478,240
Price Per Room	£39,853
Sale Type	Investment
Net Initial Yield	6.39%
Property Type	Hospitality
Property Subtype	Hotel
Building Class	C
Lot Size	2.00 AC
Building Size	5,220 SF
No. Rooms	12
Number of Floors	1
Year Built	1952
Parking Ratio	3.83/1,000 SF
Corridor	Exterior
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.