Quote:
Originally Posted by RoseCtyRoks
Foreclosure proceedings have begun for the hotel, built in 1921. I've loved this place.....the views, wow! Hopefully, someone will come in and take over (and take care of ) this landmark. Pretty amazing how abruptly it just shut down... ... Anyone with 5.9 mil layin' around?
http://www.oregonlive.com/news/index...rge_hotel.html
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I'd say $5.9 million is a bargain for 39 rooms. The lot is plenty big that somebody with capital could make the needed additional building to capitalize on the location and brand. Underground parking and some noise dampening from the freeway would do wonders too.
Even as is somebody should be able to make a go of it if they aren't highly leveraged. Assuming you could get financing you really only need $2 million layin' around.