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flip iD: 6444

64-room interior corridor hotel in Dowagiac, Michigan — a growing market with multiple year-round demand drivers and significant upside for value-add investors.

Located at Dowagiac, MI 49047, Former

PROPERTY HIGHLIGHTS:

64 Rooms | 2-Story Interior Corridor

New Roof Installed – 11/2024

Full LED Lighting Upgrade (Interior + Exterior) – 2/2025

New Furniture Purchased – 1/2025

15 Rooms Fully Renovated

49 Rooms with Original Carpet – Ideal for Value-Add Upside

Fire Safety Upgrades Completed – Fire panel and sprinkler system brought up to code

Additional Updates in Progress – Including FF&E, infrastructure improvements, and systems modernization

 MARKET ADVANTAGES:

Located in Dowagiac, MI (Population ~6,000), with over 15,000 residents in a 5-mile radius, this property sits in a thriving small-town market with strong tourism and institutional support.

30 Minutes from South Bend, IN & Benton Harbor, MI – Expands reach to larger metro traffic

Fire Safety Fully Compliant – Critical infrastructure already updated

Franchise Key Money Opportunities – Eligible for franchise conversions offering $2,500–$5,000 per room in key money

Apartment Conversion Potential – Layout and structure make it a viable candidate for multifamily housing conversion, especially for workforce or affordable housing

Renovation-In-Progress – Major capex completed; excellent opportunity for the next investor to finish updates and capture full value

Strong Mixed-Demand Drivers – Leisure, healthcare, education, and business travel all present

This is a rare chance to step into a hotel that already has major improvements completed, with numerous strategic directions available — franchise, boutique, or conversion to alternative use. The area’s diversity of demand drivers and growing visibility make this property an ideal acquisition for an operator or investor looking for long-term upside.

Price is 1.7m, have revenue when it was a run down Baymont doing 500-600k not interested in seller financing but could do something small under 400k to get a deal done

ID: 6307

This 24 unit motel is currently operating as a long-term stay studio/apartment complex, offering stable, consistent rental income with full occupancy.

acts as a multi family but its still a motel
seller financing MAKE OFFER seller will respond accordingly

Property Highlights:

-95% Occupied – Every unit is leased on a 1-year agreement with long-term tenants. Main owners residence can be rented to new buyer as owner currently lives here.

-Diverse Unit Mix:

18 standard units – each functioning as an efficiency-style studio with bathrooms.

2 stand-alone cabins – each a spacious 2-bedroom, 1-bathroom home in the back of the property.

3 separate units for storage, laundry and housekeeping unit that can be converted for tenancy.

1 Main Owner’s Residence: A 2-bedroom, 1-bathroom home located on-site, perfect for an owner/operator or property manager.

-Ample Parking:

Plenty of parking spaces for all tenants with additional room to spare!

-Turnkey Investment:

• Property is already set up for consistent, passive income.

-Why This Property?

This cash-flowing asset is perfect for an investor looking to take over a fully stabilized rental property. With high demand for affordable housing and extended-stay rentals in Amarillo, this property is a rare find with immediate revenue.

-This is an unbeatable opportunity for anyone looking to own a high-yielding property in a growing area!

Property Financial Overview

Address:  Amarillo, TX 79107
Current As-Is Market Value: $1,311,603.56 at $157,339.68 current annual NOI (12% cap rate for Motel)
Rehab: $135,000
ARV: $2,309,525.79
Price: $899,900 OBO
Value-Add Potential – Kitchenette Addition and Planned Unit Development Conversion

This property presents an attractive investment opportunity by adding kitchenettes to the remaining 14 units. We've received a quote of $70,000 for the necessary materials and labor to complete this project.

We've also met with Amarillo's zoning department and community development team to discuss rezoning the property to a "Planned Unit Development" (PUD). This rezoning will require installing fire sprinklers and one fire hydrant, with a total estimated cost of $65,000.

These upgrades would allow us to increase the rents to the Fair Market Rent (FMR) rate of $872 per month. With a total investment of about $135,000, these improvements will substantially raise the property's value, potentially turning it into a $2,309,525.79 asset that generates consistent passive income for many years.

  Estimated Financial Impact of Kitchenette Addition (Proforma):

Revenue:
(18) Studio Units x $872 a month = $14,634 per month
(1) Studio (Housekeeping unit converted) = $872 per month
(2) 1 Bed 1 Bath Houses (2 standalone cabins) = $1,904 per month
(1) 2 Bed 1 Bath Unit (Main Owner’s Residence) = $1,158 per month
Gross Sum: $18,935 (95% occupancy)
Adjusted NOI (Less Total Operating Expense of $3,788.36): $15,146.64 per month
Annual NOI: $10,617.60 x 12 months = $181,759.68
Projected Valuation: $181,759.68 NOI at a:
7.87% cap rate for Amarillo, TX = $2,309,525.79
9% cap rate = $2,019,533.33 (Conservative ARV)
10% cap rate = $1,817,580 (Conservative ARV)
This opportunity offers immediate cash flow and long-term equity growth. We have the full financial file including rent roll, photos for your review.

 Full Financial Package by request 

FlipID 1256 

This property comes with three parcels. Lot 1 includes the hotel, which had 135 guest rooms at one time, a large 28-room building behind the hotel which has great apartment or condo potential; a four-bedroom Victorian house and barn next door to the hotel; and a 10-acre lot, which was where the former Union Hotel once sat.
Stepping through the doors of the hotel is a complete time warp. It has the original lobby and front desk with a 1930s Otis elevator that goes to all five floors. The front desk was restored to its original 1896 natural cherry and walnut finish. The exquisite new multi-tiered "French gold" chandelier is customized with over 100 Austrian Swarovski crystals. Fanimation designed the two, real palm leaf blade fans. Original plaster moldings and ceiling were restored. The ballroom features beautiful coved ceilings with French Empire crystal chandeliers. There is a full commercial kitchen and a dining room that seats 95 people. The hotel has three wings to it.
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The upstairs needs complete renovation and this is not a project for the faint of heart, but it is well worth the reward. Schoharie County is in great need of guest housing and this would be a perfect property for that. The current guest rooms are small and would require combining rooms to make suite-sized rooms. The first and second floors are perfect for retail store space or a small mall concept. This is Amish Country and the area Amish have expressed interest in making this into an Amish Marketplace which would attract visitors from all over.
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This property is being sold AS-IS. With a substantial amount down, the owner would consider owner financing for the right buyer. Proof of funds is required to schedule a showing. Call (518) 860-5513 for more information

Listed at $1.500.000
45,000 Sq feet / 13 acres m/l