Burton Inn
SOLD

Cambria, California
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Property Type
Bed & Breakfast / Inn
Guest Rooms
11
Baths
11
Restaurant
No
Owners Quarters
Yes
Asking Price
$1,890,000

Occupancy Rate
45%
Average Daily Rate
$175
Gross Revenue
$335,000
Gross Revenue Multiplier
5.64

Property Overview

(Main building historic house (circa 1875) with three units, library, living quarters, kitchen, dining room, second building (circa (1975) with eight huge units (each unit 700 sq. ft. plus).


Property Description

In the heart of Cambria, a tourist coastal quaint town five miles from Hearst Castle and fifteen miles from the Paso Robles wine country, one mile from the ocean.


Business Description

Purchased about twelve years ago, the wife of the couple who purchased it had her dream fulfilled: owning a B&B along the coast of California. Doing extremely well and then two years ago she died. Husband has not been able to operate the inn successfully. Income has dropped dramatically. Huge potential for immediate turn-a-round.


Reason for Selling

Death of one of the owners.


Terms & Asking Price

All cash, prefer short escrow and diligence period. Strength of buyer and good terms will influence price.