SOLD
Income Property Investments Acquires Temecula Motel 6 From Hotel Investment Group For $21.5M
41900 Moreno Road - Motel 6
Hotel
Sold 137 days ago
Summary
Sale
CALIFORNIA
Hotel
A 135-room Motel 6 located at 41900 Moreno Road in Temecula has been sold for $21.5 million. The property, situated in the historic Old Town Temecula area, was purchased by Income Property Investments, based in Rancho Cucamonga, from Hotel Investment Group. The sale price of $21.5 million translates to $159,260 per room, a notable increase from its acquisition price of $142,222 per room in 2022.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $21,500,000
- Acres: 3
- Address: 41900 Moreno Road - Motel 6
- Market: Temecula
The buyer, Income Property Investments, was represented by Kumar Koneru, while Bhavesh Patel acted as the seller's representative for Hotel Investment Group. This transaction marks another successful deal for Income Property Investments as they continue to expand their portfolio in the hospitality sector.
Details
SOLD
IMAGE: Bhavesh Patel
DATE: 12/27/2023
ADDRESS: 41900 Moreno Road - Motel 6
MARKET: Temecula
ASSET TYPE: Hotel ~ ACRES: 3
BUYER: Income Property Investments - Kumar Koneru
SELLER: Hotel Investment Group (@HotelInvestment) - Bhavesh Patel
SALE PRICE: $21,500,000
KEYS: 135 ~ PPK: $159,259
NOTE: Income Property Investments, based in Rancho Cucamonga, has purchased a Temecula Motel 6 for $21.5 million from Hotel Investment Group. The 135-room hotel, located in historic Old Town Temecula, traded at $159,260 per room, up from its 2022 acquisition price of $142,222 per room.View on map
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Address41900 Moreno Road - Motel 6
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