Marcus & Millichap is pleased to offer a qualified investors an opportunity to purchase The Sky Hotel, an absolute fee simple hospitality asset located in Westwood, CA.
The Sky Hotel is a contemporary two story, 28 room boutique hotel, located right on Westwood Blvd and one block from the massive new UCLA Research Center (Westside Pavilion). Sky Hotel is an add-value opportunity for the next investor to take to the next level.
The hotel is surrounded next to Cafés, 2.5 miles from UCLA, Westwood Village, famous Rodeo Drive in Beverly Hills, and within 5 miles from Santa Monica Beach. The property is also ideally located close to Loyola Marymount University, Sony Pictures Studios making it a prime location for student and corporate housing.
Sky Hotel was built in 1953 as a multifamily. The property was converted into a hotel and has gone several renovations. The average room size is anywhere from 250 to 375 square feet and there is one executive suite measuring 625 square feet.
The hotel also features 16 parking spaces, a business center and a rather large lobby / indoor atrium. The property also has a Type 70 Liquor License, you can sell Wine, Beer and Spirits to Hotel Guests and their invitees. License is transferable to buyer .