The City Of Anaheim Acquires Motel In Anaheim For $5.5M

The City of Anaheim has purchased a motel property located at 120 S. State College St. in Anaheim. The motel consists of 32 keys and spans a total area of 12,295 square feet. The transaction was completed for a sale price of $5,500,000, resulting in a price per key of $171,875 and a price per square foot of $447.

Summary of transaction details

• Property Type: Motel
• Transaction Amount: $5,500,000
• Address: 120 S. State College St.
• Market: Anaheim
• Keys: 32
• Price per Key: $171,875
• Square Footage: 12,295
• Price per Square Foot: $447

The purchase of the motel property by The City of Anaheim signifies their investment in the local real estate market. The acquisition was made to further enhance the city's offerings in hospitality and tourism. The deal was facilitated by Harry Sidhu, representing The City of Anaheim.