221 Concord St $4,495,000

The 2TwentyOne is a hotel/apartment building situated three blocks from downtown El Segundo. The city recognizes the property as a 31-room hotel, however, currently it is operated as a hybrid between an apartment building and a hotel, where 34 rooms are available nightly, weekly or monthly, depending on not only the needs of the clientele but also the seasonal demand. Considered to be one of the lowest costs apartment buildings or hotels anywhere in the area, the property is of high demand and enjoys a very high occupancy rate. Please note that all rooms utilize shared bathrooms that are available on each floor and the property is considered an SRO (single room occupancy). There are a variety of uses that a new owner could explore to optimize the highest income to expense ratio including:100% nightly rentals-Pure hotel operation100% monthly rentals-Pure apartment operationWeekly rentals could be considered. Hybrid operation-rent units nightly or monthly.