15432 Old Washington RD new Save Request In-Person Tour Request Virtual Tour
Nevada City,CA 95959
Key Details
Property Type Commercial
Sub Type Hotel-Motel
Listing Status Active
Purchase Type For Sale
MLS Listing ID 225048181
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1865
Lot Size 0.510 Acres
Acres 0.51
Property Sub-Type Hotel-Motel
Property Description
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
Location
State CA
County Nevada
Area 13109
Direction From Downtown Nevada City. Highway 20 East. Left at Washington Road. Go down until you reach the town, PIQ will be on the left.
Location Details Other
Interior
Heating Propane,Central,Other
Cooling Central,See Remarks
Flooring Tile,Carpet,Combo of Materials,Vinyl,Wood,Varies by Unit
Exterior
Parking Features Street
Utilities Available Propane,Backup Generator,Separate Water Meter,Cable Connected
Water Access Desc Water District
Roof Type Metal
Building
Sewer Septic System
Water Water District
Others
Senior Community No
Tax ID 064-060-053-000
Special Listing Condition None