Pasadena, California, a city known for its rich history, cultural institutions, and scientific companies, offers a unique opportunity for investors to tap into the hotel market. With 2 hotels for sale, Pasadena presents a diverse range of investment options. Hotels in Pasadena can represent a variety of investments, from boutique hotels to large chain establishments, each offering a distinct experience for guests. The city's amenities, such as the Rose Bowl Aquatics Center, Huntington Hospital, and the Pasadena Public Health Department, make it an attractive destination for tourists and business travelers alike. Pasadena's location, 11 miles northeast of downtown Los Angeles, provides easy access to major transportation hubs, including the Los Angeles Metro A Line light rail and the Hollywood Burbank Airport. The city's infrastructure, including the Pasadena Water and Power Department and the Glenarm Power Plant, ensures a reliable supply of water and power. Additionally, Pasadena's educational institutions, such as Caltech and Pasadena City College, attract visitors and students from around the world. With its unique blend of culture, education, and entertainment, Pasadena is an ideal location for hotel investments.
Pasadena's hotel market is just one aspect of the city's diverse commercial landscape. The city is also home to a range of restaurants, apartment buildings, and shopping centers, each offering unique investment opportunities. Restaurants in Pasadena, such as those in Old Pasadena, offer a diverse range of cuisines and dining experiences. Apartment buildings in Pasadena, like those in the Bungalow Heaven neighborhood, provide a unique blend of historic charm and modern amenities. Shopping centers, such as those along Colorado Boulevard, offer a range of retail options and services. With its rich cultural heritage, diverse economy, and attractive amenities, Pasadena is an ideal location for investors looking to tap into the hotel market or explore other commercial opportunities.
What factors should I consider when buying a hotel in Pasadena?
When considering buying a hotel in Pasadena, there are several key factors to take into account, including:
- Average price per square foot, currently at $666 USD, and average size in square feet, currently at 25,861 square feet, to determine the overall cost of the property.
- Average cap rate, currently at , to assess the potential return on investment.
- Location and accessibility, with proximity to major transportation hubs like the Los Angeles Metro A Line light rail and Hollywood Burbank Airport, as well as local amenities like the Rose Bowl Aquatics Center and Huntington Hospital.
It's also essential to research the local market, including the current inventory of 2 hotels for sale, and to consult with a commercial real estate expert to navigate the process of securing CRE loans, as outlined in our article at commercial real estate loans.
How is the value of a hotel for sale typically calculated?
In Pasadena, where there are currently 2 available listings of hotels for sale, the value of a hotel is typically calculated through a comprehensive CRE appraisal, which takes into account factors such as the property's income, expenses, and market value. For a detailed understanding of the CRE appraisal process, you can refer to our article at CRE appraisals, which provides an in-depth look at the methods and techniques used to determine the value of commercial real estate properties like hotels.
