$599,000
Quartzsite, AZ 85346
MLS# 6172812
Status: Closed
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Property Description
20 CAP for an Absentee Owner! Recently Remodeled 10-Unit Motel and Restaurant located on Main Street in World Famous Quartzsite, AZ - Home of the World's Largest Rock and Gem Show Each Winter. The 1-Acre Property also comes with a Nice Modular Home with a Garage. Could be Used for Rental Income, a Manager or an Owner Operator. Total Bldg Square Footage Exceeds 6,000sf. 2019 Gross Income was $146,285. Net Profits were $77,456 + $3,300 Each Month for Owner Debt Service of Previous Owner Carry Back. 2020 thru 7/31 Gross Income was $77,577 with Net Profits running $38,154 + the $3,300.00 for Debt Service. Gross Payroll for 2019 was $20,343. Restaurant Operated by 3rd Parties & Rents for $2K/mo. $200K in Equipment that Conveys with Sale. Owner is Also Open to a Small Carry Back.
Details
Maps
Contract Info
Current Price: $599,000
Sold Price: $599,000
Status: Closed
List Date: 2020-12-18
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: C80
House Number: 904
Compass: W
Street Name: MAIN
St Suffix: Street
City/Town Code: Quartzsite
State/Province: AZ
Zip Code: 85346
Country: USA
County Code: La Paz
Legal Description (Abbrev): LOT 3 AND A PORTION OF 4 SECTION 28 TOWNSHIP 4N RANGE 19W LOT 3 KUEHN PARK SUBDIVISION AND POR LOT K
Subdivision: KUEHN PARK
Assessor's Map #: 67
Assessor's Parcel #: 4
Assessor Parcel Ltr: B
Add'l Parcels: No
Assessor Number: 306-67-004-B
Census Tract: 20502
Legal: LOT 3 AND A PORTION OF 4 SECTION 28 TOWNSHIP 4N RANGE 19W LOT 3 KUEHN PARK SUBDIVISION AND POR LOT K
Tax Municipality: Quartzsite
Taxes: 14029
Tax Year: 2019
Marketing Name: Stagecoach Motel
General Property Description
Type of Property: Motel & Restaurant
Ttl Apx SqFt Bldg: 6500
# of Buildings: 2
Year Built: 2008
Zoning: Commercial
Remarks & Misc
Cross Street: Interstate 10 & Exit 19
Directions: Interstate 10 & Exit 19 Headed West. Exit 17 Headed East. Across the Street from the Pilot Truck Stop. Sign on Property.
Geo Lat: 33.664149
Geo Lon: -114.231817
Status Change Info
Status Change Date: 2021-05-26
Off Market Date: 2021-03-26
Under Contract Date: 2021-03-19
Close of Escrow Date: 2021-05-25
Sold Price: $599,000
Legal Info
Township: 04N
Range: 19W
Section: 28
Lot Number: 3
Income & Expenses
Owner Association: No
Annual Other Expense: 68829
Operating Exp: 82858
Gross Annual Sch Inc: 146285
Vacancy Allowance: 0.1
Adjusted Gross Inc: 131656.5
Net Operating Income: 77456
Pmt & Rate Info
Cap Rate: 12.93
Equity: 599000
Contact Info
List Agent Home Phn: 480-600-6001
Sold Info
Loan Type: Cash
Payment Type: Fixed
Clsing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Building Type: Commercial
Current Use: Service Business; Restaurant; See Remarks
Stories: 2 Stories
Construction: Block; Frame - Wood
Roofing: Built-Up; Foam
Floors: Ceramic Tile; Carpet
Ceiling Height: 8 Feet or Less; 8.1 Feet to 10 Feet
Cooling: Central A/C
Loading Facilities: None
Interior: Finished; Smoke Detector(s); Security System; Security Light(s); Security Camera(s); Alarm System; Phone System; Private Restrooms
Exterior: Building Sign; Monument Sign; Security Light(s); Security Camera(s)
Fencing: None
Parking: Free; Public Parking; Paved Parking
Electric: APS
Gas: Propane Bottled
Water: City Franchise
Sewer: Sewer - Public
Freeway/Highway: Up to 1 Mile
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Special: Incorporated Area
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Roads/Streets: Gravel; Asphalt
Traffic Count: Up to 5,000
Reports/Disclosures: Seller Prop Disc Stm
Use Restrictions: Existing Easement(s)
Environmental: None
Listing Office: Valley of the Sun Real Estate
Last Updated: May - 26 - 2021
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