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9/22/22
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An OC-based real estate syndication group paid $8.6 mil for a 44-key ($195.4k/unit) Days Inn by Wyndham hotel adjacent to Disneyland in Anaheim.
The hotel is located at 1030 W. Ball Rd at the northwest corner of Disneyland Dr, within walking distance to the famed theme park and Downtown Disney. Days Inn by Wyndham features spacious guest rooms, including king-bed, two-queen bed, and three-queen bed configurations. The guest amenities include free breakfast and Wi-Fi, onsite parking, a 24-hour reception desk, and coin-operated laundry rooms.
Having not been renovated since it was built in 1983, the hotel represents an excellent value-add/reposition opportunity, especially as we come out of the pandemic, according to Otto Ozen, who, along with Alex Mogharebi, both with The Mogharebi Group, represented the buyer in the deal.
“Hotels around Disneyland suffered as the pandemic forced the theme park to close for more than a year, and it wasn’t until May 2022 that it operated at full capacity,” said Ozen. “Now that its attendance has increased, we are beginning to see key hospitality metrics in the area improve, which bodes well for the new ownership,” he said. “With much needed improvements, ownership will be able to leverage the hotel’s prime location to seize the tremendous upside that exists, especially given the expansion and improvement plans for Disneyland announced by Disney at D23 last week.”
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