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560 Jeffries Road, Big Bear...

Joel Tucker & Martin Agnew Acquire Big Bear Lake Hotel For $1.57M
SOLDHotel

Joel Tucker & Martin Agnew Acquire Big Bear Lake Hotel For $1.57M

560 Jeffries Road, Big Bear Lake, California 92315, United States

$1,575,000

$607/SF

Building Size

2,592 SF

Asset Type

Hotel

Closing

May 12, 2022

AI

An hotel located at 560-572 Jeffries Rd. in Big Bear Lake was recently sold in a transaction on 05/13/2022. The property spans 2,592 square feet and was sold for a price of $1,575,000, resulting in a price per square foot of $607.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $1,575,000
  • Address: 560-572 Jeffries Rd., Big Bear Lake
  • Market: Big Bear Lake
  • Buyer: Joel Tucker & Martin Agnew
  • Seller: Cari Bravo & David Bravo
  • Buyer's Representative: Martin Agnew & Ryan Serling - Agnew-Serling Group
  • Seller's Representative: Joel Cheek
  • Square Footage: 2,592
  • Price per Square Foot: $607

The transaction was facilitated by Martin Agnew and Ryan Serling from Agnew-Serling Group, who represented the buyer, Joel Tucker and Martin Agnew. On the other side, Joel Cheek served as the seller's representative for Cari Bravo and David Bravo. The deal marked the successful transfer of ownership for the hotel property.

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

10.07%

Cash-on-Cash

-2.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93