Howard Johnson Hotel, Buena Park, CA.

Conversion to Multifamily

Investment Summary

• Strategy: Reposition property from 104 - unit Hotel to 104 Multifamily (studios). Repositioning permits already granted.

• Location: Desirable location, a few miles away from Disneyland and major commercial areas in Buena Park, CA.

• Acquisition Price: $12.6 million (asking $14 million).

• Development Plan: Reposition all units into studios, adding a kitchenette per room. $3 million in renovations and upgrades. Complete exterior makeover. Remove all hotel operational costs (lowering 35% operational costs), almost doubling the NOI of the property.

• Investor Returns:

  • Target raise: $3 million.

  • Projected returns: 55% to 75% returns (depending on type of equity)

For further details, including financial models and timelines, access the linked Google Drive.