For Sale

15432 Old Washington Road, Nevada City, CA 95959

15432 Old Washington Road, Nevada City, Nevada, CA, 95959
5 months ago
Views: 3

$995,000(Negotiable)

Overview

3462147

Type

Hotel-Motel

Parking

Build Year

1865

Purpose

For Sale

About This Listing

Historic Gold Rush-era riverfront hotel in Washington, CA, featuring 14 guest rooms, a full-service restaurant/bar, and a 2BD/1BA 2,172 SF apartment. Built in 1865 and renovated in 2017, the 8,206 SF building sits on a 0.51-acre lot with direct access to the South Yuba River, a popular swimming hole. The bar and restaurant generate ~85% of the ~$533K 2024 gross income, supported by a valuable Type 47 liquor license (included, ~$175K value). Pro forma income is ~$555K with market rent on the apartment, yielding ~$88K NOI and an 8.9% cap rate at asking price. Hotel rooms are underutilized (~10% occupancy) vs. comps at ~60%, offering major upside via marketing, OTA exposure, and light upgrades. Two premium rooms with private baths are consistently booked; others offer affordable hostel-style lodging. The third-floor apartment offers owner-user potential or additional income as a long-term or short-term rental. Ideal for SBA financing, this mixed-use property provides strong cash flow, upside, and irreplaceable riverfront appeal. Established in 1849, Washington is a historic Gold Rush town nestled along the South Yuba River in the Sierra Nevada foothills. Known for its scenic beauty & tight-knit community, it attracts campers, hikers, & outdoor enthusiasts. 25 mins from NV

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MetroList CA data Last Updated: April 17, 2025, 7:32 pm

Data Source: SACM