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| 2010/09/01 01:51:30瀏覽546｜回應0｜推薦6 | |
Dear Sir. Dear Sirs, I am replying your mail point by point with regards to your questions: 1. I raised the price from 2M to 3.5 millions for the reason that same motel about same stance from Fish Camp with 26 rooms selling at 3.4millions. Mine is with 27 operational rooms plus 44 A/C land. ( I want to keep 5 acres for building my retirement home.) 2. I have owned this motel for 20 years and paid off my mortgages. I have paid over 1.7millions including interests all 15 years mortgage. 2M is just my cost and my wife wants out desperately because of our age. (I am 76 and wife 71) 3.total occupancy in average I can not come up with right answer. I operated for 20 years it was the land that attracted me in buying this motel from the beginning. 4. If you only have 0.5 million cash I would not advice buying this motel. In today's economy no bank would be able to offer any meaningful financial assistance. Unless, of course, you have sufficient fund to back you up for developing a big project. Our neighbour, Bug hostel owner Douglas has interests and planning to buy but could not find money and/or financial assistance. He planned to build big Camp Ground in the middle parts of this property say Based on KOA estimated 90 camp site requires minimum 10A/C with constraction estimated 1.35 million 270 camp-site income at$35 per night X180 days of expected occupancies. (In Yosemite Park, you have to reserve camp site one to two years ahead of time.) If you could negotiate with the park and make it YOSEMITE ANNEX CAMPGROUND IN MIDPINES you could generate annul income $500,000 to one million only on account of Campground revenue. 5. My annul sale from 1990 were between $40,000 to $200,000 without sales efforts and just walking-in customers. Right now we only open 15 rooms for business and has left 12 room idle. All room are operable and I do not want to spend money for renovation.Both of us are senior and just want to live an easy life hereafter. Not greedy though! 6.How many people working ? Right now just my wife and I plus part time help from time to time. I used to hire 6~7 part timers during old time. After paying all taxes we found there nothing left for us to have decent living. We decided to do it all by ourselves after selling 25 acres land to our neighbour in 2004 and paid off all mortgages. 7.How are the weather condition in the area? Pretty good and since the elevation here is about 2300 feet above sea level, we see snow once or twice a year and thaw in day time. It is mountain and chilly and cold in winter. 8.All together there are 8 buildings namely front birding #room 1~5 2nd office building 3nd building with room #6~7, 4th #8~9 5th #12~16,6th #17~#22, 7th #23~26 and 8th building with Honey moon Suite and tiny room #10. #11 was original Kitchen room converted to a small room. All room with private bath. 9.condition of the lodge. This motel, according to record,were built starting 1957 building#1 Office, and 7th were added in 1981 I believe. 10. the motel is located in front of HWY 140 with Bear creek running between highway and property line. Parcel size is about 48.40 acres and I want to keep 2.5acre on the top view lot.Therefore,you could only buy 43.75acres. I spent money graded top view lot about 4 acres over looking whole view of the mountain. Based on Mariposa Ordnance once it ecomes commercial resort zoning it can be divided with minimum 2.5 acre and developing 6 individual commercial lot for Bed and Breakfast. 11. does it requires lots of expenses for repair? I do a lot of work and Bill and John come to help from time to time. It is operable and we keep it clean. Yes it is old but solid wood buildings. 12. We want half million as down payment and balance carrying mortgage at3.75% with capital+ interests about $7,000 monthly. I told Doug that 2 years ago that my listing is about 3 million if he were interested in buying Muir Lodge, I will settle with 2 million because of expressing our appreciation of his previous helping us pay off the mortgage in 2004. 13. I have new well installed in 2003 w/expense $45,000and have daily water 12,000 gallon enough even for expansion of Campground. Because of well located near the creek we have never have water shortage. 14. You can go to link http://www.yosemitehikes.com/lodging/midpines/muir-lodge.htm check the Google earth about our property with a bird view. I think that is enough to answer your question. Thanks for your precious time spent on this issue.
Michael and Mari |
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