Updated Dec 4, 2024
Hiren Govind Acquires Hotel From Steven Koo In Yucca Valley For $11.05M
$11,050,000
$93/SF
Building Size
118,722 SF
Asset Type
Hotel
Closing
Feb 6, 2024
About this deal
AI
The hotel located at 56525 Twentynine Palms Hwy in Yucca Valley was sold for $11,050,000. The property spans 118,722 square feet, resulting in a price per square foot of $93.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $11,050,000
- Address: 56525 Twentynine Palms Hwy
- Market: Yucca Valley
- Buyer: Hiren Govind
- Seller: Steven Koo
- Brokers: Ryan Sanchez & Mitchell Glasson - Matthews Real Estate Investment Services
Ryan Sanchez and Mitchell Glasson from Matthews Real Estate Investment Services facilitated the transaction between the buyer, Hiren Govind, and the seller, Steven Koo. Their expertise in the real estate market played a crucial role in the successful sale of the hotel in Yucca Valley.
Players
Market 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93