Viva Brazil Motel 11740 W Washington Blvd 16 Room Hotel Los Angeles, CA 90066 $16,614,000 CAD ($1,038,375 CAD/Room)

https://www.youtube.com/watch?v=yWX9wNQNh9c
Seller Financing Available
PropertyWork Group of Coldwell Banker, as an exclusive agent, is pleased to present the opportunity to acquire 11736 & 11740 Washington Blvd Los Angeles CA 90066. The subject property includes 16 Room Motel Villa Brazil, highly profitable 5 star reviewed restaurant Cafe Brazil and 2 apartment units situated on approximately 15,840 square feet of land just south of Downtown Culver City and north of Venice and Marina Del Rey.
With Apple, Amazon, Google, Facebook and HBO all opening major new office & studio locations Culver City is set to become the next Silicon Valley and new mecha of content factory making this one of the strongest rental markets throughout Los Angeles. About 25% of current Culver City’s population will increase due to the large influx of tech giants and media and gaming companies.
Villa Brazil and Cafe Brazil are owned and operated by the seller. 3 year (2016,2017,2018) average revenue for Cafe Brazil was approximately $1,271,626, 3 year (2016,2017,2018) average revenue for Villa Brazil was approximately $365,581, total sum of approximately $1,637,207 annual revenue. Experienced operators have a unique opportunity to acquire a seasoned and successful motel location with positive operating history and lots of upside potential.
11740 & 11736 Washington Boulevard is ideally located on 15,840 square feet of land with a mixed zoning of CCC3YY and R3-1. Of the total 15,840 of land, approximately 11,312 square feet is zoned CCC3YY and 4,528 square feet is zoned R3-1. Subject property benefits from large 103.89 feet of frontage along Washington Blvd "By-right", a developer can build by right 15 residential units, 3 retail units and through the utilization of the State Density Bonus, providing 11% affordable (VLI) to receive two incentives: Floor Area Ratio and 20% decrease in any individual required set back, you can build up to 25 residential units and 3 retail units. Savvy developers can also use Culver City community benefit program to increase the ratio of by right units from 35 units per Acre to 50 units per Acre to maximize unit count for this project.