PROPERTY: Beautiful Bed and Breakfast, 39 room, historical hotel. JURISDICTION:
White
Pine
County, State of
Nevada
LOCATION: Plaza Hotel, 795 Aultman Street, Ely, Nevada
89301
AMOUNT: $500,000.00 (Five Hundred Thousand US Dollars)
ZONING: Commercial – This is income property
PLEASE EMAIL TEN4LASVEGAS@YAHOO.COM FOR RECENT PHOTOS
The Plaza Hotel is a 39 room, two-story hotel located in the downtown historic district of Ely,
Nevada. It is a two-story brick building with great historical significance situated in the heart of Ely, next to the city’s main park. Ely is located in northeastern
Nevada and is the county seat for White Pine County.
The $500,000.00 First Trust Deed will bear Twelve Percent (12%) per annum. The interest only monthly payments are Five Thousand US Dollars, ($5,000.00) per month. The maturity date is March 2, 2011 There is a late fee of ten percent (10%) of the monthly payment if payment is not received within Fifteen (15) days of the due date.
Due to the reopening of the Quadra Copper Mine, and an increase in the 2005 copper prices, the City of
Ely is currently experiencing a financial boom. There is a shortage of housing, and the Plaza Hotel is a great asset to the city.
An older appraisal of the Plaza Hotel is available upon request.
The loan to value is 33.3% based on debt of $500,000.00 to the value of $1,500,000.00.
The owner is in the process of replacing all existing carpeting and all furniture as required, making minor repairs, cosmetics and re- roofing. The all-brick built structure, of approximately 15,000 square feet, will retain its historic architectural style. After renovation, it will have an approximate value of over $1,500.000.00
Contact:
Terrance "Dez" Dzvonick
Phone: (951) 283-0557
Email: Ten4LasVegas@yahoo.com
