509 Park Blvd., Downtown, CA 92101

$8,000,000

Property Description

76 residential units+3000 Sg Ft in 2 commercial spaces units 100 & 106+Enclosed Terrace Vacant currently used for storage. The floor plans attached herein see Documents and Pictures. Local Historic Building designation, Opportunity Zone Tax benefits with improvements. The Bay View Hotel aka Palms Hotel Originally constructed in 1869 then expanded in 1888, building in the Italianate architectural style. The building incorporates a portion of the original 1869 hotel. The large, U-shaped building features a flat roof, a bracketed cornice with a plain frieze spanning the perimeter of the building. Exterior building materials consists of brick veneer and wood, first floor corner retail space with 47 apartment units designated as SRO (single room occupancy) and 30 apartments some are hotel sleeping rooms created by prior owners dividing an apartment into 2 units, common bathrooms on each floor, common kitchen on 1st floor, 9 units have separate kitchen and bath, 1 unit with Kitchen and a few units with only sinks.

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Courtesy of WA Rigley Corp, Will A Rigley.

Last Updated: Source: Sandicor Regional MLS

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