400 and 406 S Atlantic Ave Daytona Beach, Fl Across the street from the ocean. Lou Ray Motel www.louraymotel.com
Properties just rehabbed cashflowing as mostly weekly rentals
$1.2mm Asking price for both. Gross income has ranged from $14k to $18k per moth the last couple of months. May carry paper for the right borrower.
Upside potentials are:
turn the six plex into a hostel for foreign travelers and language school students (bunk beds, etc.) run the motel as more of a "daily" vs a "weekly", fractionalize the property or ??
