Ocean Shores.JPG

 

INSIDER OPPORTUNITY

80 UNIT BEACHFRONT

APARTMENT/HOTEL

THE SANDS RESORT | OCEAN SHORES

$4,000,000 | $50K/UNIT

 

CONTACTS

Lloyd Ball
Managing Broker | President
206.947.5053 | Lloyd@anomalyco.com

Ariv Adiaman
Broker
425.823.9809 | Vozhi.homes@gmail.com


801 Ocean Shores Blvd, Ocean Shores, WA 98569

Popular 79 rooms/units + 1 townhouse

 

80

Rooms/Units

32,415

SF of Building

1977

Year Built

2018

Rennovated

4

Parcels

90,170

SF of Land

 
Screen Shot 2018-08-31 at 3.57.44 PM.png
Screen Shot 2018-08-31 at 3.57.19 PM.png
Screen Shot 2018-08-31 at 4.01.26 PM.png
 
 

SUMMARY

The Sands Resort is a limited service hotel/apartment in the center of town with ocean views.  Being located in the heart of the hotel/tourism district allows guests the freedom to walk to all of the most popular restaurants, retail, entertainment venues, as well as the Ocean Shores Convention Center (2 blocks).

The site features 300 ft of Ocean Shores Blvd frontage, an indoor swimming pool, game room, outdoor decks for gatherings and entertainment, a new phone reservation system, and asphalt parking lot.  The seller is in the process of remodeling interiors, exterior, systems, and the indoor pool.  


PROPERTY REVENUES

FROM 3/1/18 to 11/26/2018

Buyer to review details during feasibility period.

 

APARTMENT LEASES

10

Units Leased as Apartments

$500

Avg. Rent/Unit/Mo.

$5,000

Monthly Rental Income

 

HOTEL REVENUE

$1,074,722

Per Year

( Annualized )

$89,560

Per Month

( Annualized )

$2,944

Per Day

( Annualized )

 
Screen Sh.jpg

INVESTMENT UPSIDE

 

HOTEL UPSIDE

The property has tremendous upside.  The most recent sale of an Ocean Shores hotel took place 6/22/2018 (Best Western Light House).  

Best Western Sale Stats (3 Star Hotel)

491 Damon Rd NW Ocean Shores, WA 98569

  • Actual Sold Price: $10,800,000

  • Rooms: 95

  • Price/Unit: $121,053

  • Sale Date: 6/22/18

(.4 miles North and further away from the retail core)

Sands Resort For Sale Stats (Non-Flagged)

801 Ocean Shores Blvd, Ocean Shores, WA 98569

  • Price: $3,750,000

  • Rooms: 80

  • Price/Unit: $47,000

  • Sale Date: TBD

SPECIAL NOTE:  The seller converted a 23 room and 5 room hotel into apartments earlier this year.  They are both fully leased at roughly $550/unit.  Apartment or condo conversion could also be a viable strategy.  Condos of these room sizes sell around $100K/unit.

 

APARTMENT PRO FORMA

Hotel to Apartment Conversion

Screen Shot 2018-11-27 at 10.40.42 AM.png
 

CONDO SCENARIO

Hotel to Condo Conversion

 

80

Sold Units

$95,000

Per Unit

$7,600,000

Total Sellout