East Colfax motel sells for $1.3M

regismotel

The Regis Motel at 8282 E. Colfax Ave. sold this week for $1.3 million. (Rachelle Santos)

A buyer familiar with the East Colfax motel market has added to his holdings.

An entity affiliated with Daniel E. Kim purchased the 17-unit Regis Motel at 8282 E. Colfax Ave. this week for $1.3 million, according to county records.

Kim acted as Regis Motel LLC in the transaction, which closed Monday. The seller was Myong Lee, who purchased the motel, acting as Regis Motel Corp., for $440,000 in 2015.

The 8,600-square-foot motel has sat on its 0.28-acre lot since 1954, according to a Loopnet listing.

The deal is at least the third East Colfax motel purchase Kim has been involved with in recent months.

In November, an entity formed by Kim purchased the Sand & Sage Motel at 8415 E. Colfax Ave. for $1.45 million. And in December, he and three others paid $915,000 for Westerner Motel, located next door to the Sand & Sage.

The Regis is located about two blocks west of the previous purchases.

In February, other parties purchased the properties at 8100 and 8400 E. Colfax Ave., the latter of which is being converted into microunits that will be rented on long-term leases.

regismotel

The Regis Motel at 8282 E. Colfax Ave. sold this week for $1.3 million. (Rachelle Santos)

The buyer is familiar with the market, having played a role in other deals in November and December.

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more information, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.




Return to Homepage

35308

Leave a Reply

Your email address will not be published.