Five Star Waterfront Estate/Beach Property

Poulsbo, WA
Kitsap County

Asking Price: Annual Revenue:
$1,999,999 $140,000

Services: Hotel, Motel, Lodging

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RE: Five Star Waterfront Estate/Beach Property Broker: Jim Baker

Quick Facts

Asking Price: $1,999,999
Annual Revenue: $140,000
Net Profit: $120,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $35,000
Real Estate: $1,700,000
Year Established: 2008
Employees: 2
BBN Listing #: 23197375
Broker Reference #: Not Disclosed

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Business Overview:

Five Star Waterfront Estate/Beach Property For Sale
Poulsbo, WA (Kitsap County)
front view
Asking Price: $1,795,000

Cash Flow: $130,000

Gross Revenue: $145,000
FF&E: $35,000
Inventory: $5,000
Real Estate: $1,795,000
Established: 2008
Business Description
Consider owning this vacation rental gem on the Kitsap Peninsula on Washington's Puget Sound with approximately 5,000 square feet of this incredibly beautiful estate home utilized as a successful rental. In addition to the building , a prospective buyer will be delighted to see the property ( 5+ acres ) gently lead to a no-bank waterfront and beach. With a great deal to do in the area , guests would also find it easily accessible, particularly with the Seattle Tacoma International Airport located only 75 minutes from Poulsbo, a town that is known as " Little Norway on the Fjord ". Included in the estate rental home are various wings complete with lovely fireplaces , and other amenities abound in this beautifully-appointed retreat. Three large en suite bedrooms with two additional optional bedrooms ( all decorated tastefully and beautifully ) are available while offering views of Hood Canal. Top ratings of this exceptional vacation retreat attract guests from all over the United States as well as from Europe and the Orient.
Having earned its stellar reputation is directly attributed to the hard work and loving efforts of the present owners who established it in 2008 as their primary residence, but are now preparing to scale down and look to a semi-retirement phase of their lives. Asking $1,795,000 for this superior business with outstanding opportunities for additional revenues (e.g.-- corporate retreats, golf packages, team building events,family reunions, etc.) , the present owners are seeking serious buyers who have the capability of placing 50% cash down; thus, approximately $ 800,000 will be required for this sale. Gross sales annually over the last three years exceeded $140,000 with the EBITDA at $130,000 , and the property has increased in assessed value at $390,000 in the same three year period. Included in the sale are: inventory ( fully furnished with linens and supplies valued at $5,000 ), Furniture,Fixtures and Equipment ( FF& E valued at $35,000 ) and a detached two car garage with an upstairs studio suite. For the existing two buildings totaling 4,915 square feet, a 2008 appraisal of the buildings as well as the land was $2,200,000 . To assist in a smooth transition, the owners will stay on through 2018 and offer full consultant expertise with management and training included.
For one who is a serious buyer, this beautiful vacation retreat and outstanding business opportunity is chock-full of superlatives. In addition, it provides an increase in equity in the most rapidly growing real estate market in America! Don't miss this opportunity to own your own business in historic, breathtakingly-beautiful Washington!

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Property Features and Assets:

The property generates enough income to pay for the mortgage and still have $40,000 to $50,000 income. Along with a beautiful place to live.

Market Competition and Expansion:

You could develop an number of different profit centers, fishing, golf outings, boat rental etc.

Additional Details:

  • The property is owned.
  • The owner is not willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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