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449 Georgia Street, Big Bea...

Joel Tucker & Martin Agnew Acquire Hotel In Big Bear Lake For $1.13M
SOLDHotel

Joel Tucker & Martin Agnew Acquire Hotel In Big Bear Lake For $1.13M

449 Georgia Street, Big Bear Lake, California 92315, United States

$1,130,000

$482/SF

Building Size

2,340 SF

Asset Type

Hotel

Closing

May 12, 2022

AI

The Hotel located at 449 Georgia St. in Big Bear Lake has been sold in a recent transaction. The property consists of 2,340 square feet and was sold for a price of $1,130,000. This translates to a price per square foot of $482. The sale took place on 05/13/2022.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $1,130,000
  • Address: 449 Georgia St.
  • Market: Big Bear Lake

The buyers of the property were Joel Tucker & Martin Agnew, while Lani Alexander acted as the seller. Martin Agnew and Ryan Serling from the Agnew-Serling Group represented the buyers, and Joseph Ferraro from Keller Williams served as the seller's representative in this deal.

Players

Ryan Rothstein-Serling

Marcus & Millichap

Broker

$523M

vol

126 deals

Broker
Martin Agnew

Martin Agnew

2807 West Sunset LLC

Buyer

$450M

vol

123 deals

Buyer

Big Bear Lake Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.04%

Cash-on-Cash

-4.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93