La Quinta Inn by Wyndham Costa Mesa/Newport Beach
 
1515 S Coast Dr. Costa Mesa CA 92626
$26,000,000
List Price
5.81 %
Cap Rate
160
Total Rooms
$1,511,550
NOI
Executive Summary
  • The La Quinta Inn & Suites Costa Mesa/Newport Beach is a limited Service exterior corridor consisting of 2 buildings, a 2 story and a 3 story building with a total of 160 guest rooms and suites. The La Quinta Inn & Suites is suited for Leisure and Business guest. Room amenities include Free wifi, flat screen TV's, a work desk, roll away beds, air conditioning, coffee machines and *select rooms include 2 person sleeping sofa's and kitchenette's. The hotel offers onsite parking, elevators, a outdoor swimming pool, a business center, and a fitness center, 24 hour reception desk and mobile check-in. In addition, the hotel offers coin operated laundry room.
Investment Summary
  • The Asset: La Quinta Inn & Suites benefits from its frontage location on the highly trafficked 405 Freeway and within 7 minutes from major restaurants and world class shopping mall South Coast Plaza. it's close proximity to Disneyland, Anaheim Stadium, Fashion Island, Orange County beaches, John Wayne airport, Irvine Business Complex and Irvine Spectrum position itself to cater to business and leisure travelers. This asset will be a great addition to one‘s portfolio given the national brand recognition and the potential business opportunity in the immediate market.
  • The brand: The La Quinta Inn & Suites brand was purchased by Wyndham in 2018 enabling them to become the 3rd largest hotel operation in the world and has been a major growth driver for the company. With contemporary, assured and optimism as its inspiration, La Quinta brand now has 922 hotels and is a top provider of Select/Limited service lodging and excellent accommodations. La Quinta continues to brand its name among business and leisure travel guest.
  • The Franchise: Wyndham Hotels and Resorts (NYSE: WH) is the largest hotel franchising company in the world based on number of properties. Wyndham currently franchises more than 9,000 hotels, representing nearly 810,000 rooms, in more than 95 countries and territories and over 6000 owners.. Ranging from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments, Wyndham-branded properties provide business and leisure travelers with a range of high-quality, high-value lodging options throughout the United States and internationally.
  • Property Improvement Plan (PIP): The hotel will be delivered with some PIP requirements by the franchise.
  • Management and Debt The hotel is offered unencumbered of any management and is encumbered with some debt.
Excellent Location
  • Within walking distance to Restaurants and shops 405 Freeway frontage & signage 5 Minutes to the world class South Coast Plaza 15 Minutes to Fashion Island Newport Beach 15 Minutes to Orange County Beaches 15 Minutes to Irvine Business Complex, home to many large corporations 20 Minutes to Disneyland 20 Minutes to Anaheim Stadium 7 min to Orange County Airport
  • The La Quinta Inn & Suites is located on 405 Freeway, exit Harbor Blvd with close proximity to world class South Coast Plaza & Fashion Island Newport Beach. The hotel has the distinct advantage of being located immediately in the heart of the business and leisure districts. Anaheim Stadium and Disneyland theme park are within minutes from the hotel, while major restaurants, shopping, business parks and beaches are also within a few minutes from the property. John Wayne Orange County Airport is only 7 minutes from the hotel. Beautiful Southern California weather and lots of activities brings business and leisure travelers back and forth all year round.
FOR MORE DETAILS CONTACT
Julian Mazili
President
(813) 299-7045
jmazili@mazilihotelgroup.com
Michael Cherry
Managing Director
(562) 842-6553
mcherry$mazilihotelgroup.com