COMPTON, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the guestrooms portion of the Crystal Casino Hotel, (top right photo) a 238-room hotel and casino in Compton.The listing price of $16 million represents $67,227 per room.
Gordon Allred, (middle left photo) vice president investments and director of the firm’s National Housing Group in Ontario, is representing the seller.
“The Crystal Casino Hotel offers an investor a unique opportunity to acquire the guestrooms portion of a full-service casino hotel in Los Angeles County,” says Allred.
“The seller will lease back the entire ground floor and retain operation of the casino, restaurant and bar.
"In addition to the sale/leaseback, the food and beverage profits and the proposed seller financing, present an opportunity to achieve positive cash flow based on current operations with an opportunity for substantial growth through improved management and renovation.”
Located at 123 East Artesia Blvd. in Compton, the nine-story hotel and casino is situated on 9.19 acres along the Alameda Corridor between Long Beach, Calif., and Los Angeles in the center of Los Angeles County. Crystal Casino Hotel is comprised of eight floors with 238 keys above the leased ground floor, which contains the casino, restaurant and bar. The seller will lease back the entire ground floor for $600,000 per year and retain operation of the casino, restaurant and bar.
The seller will provide a $12 million all-inclusive trust deed loan at a 7.5 percent fixed rate for five years.
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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