The historic Aztec Hotel at the corner of Foothill and Magnolia is up for sale, as of July 31. The asking price is $15 million. The listing says the 44‑room hotel with retail frontage units generates about $6,000 revenue per month and adds that it "is in need of some attention..."
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- Brad Haugaard
As cool as having that property would be it’s nowhere near that price from an investment standpoint. Doesn’t generate enough in income to support that kind of valuation and being a historical property you are limited in what you can do.
ReplyDeleteUnfortunately, the place is so rundown needs another $15 million to Renovate
ReplyDeleteIt could be used as the setting for a From Dusk til Dawn reboot series
ReplyDelete“In need of some attention” is the understatement of the year. This place needs to be gutted and redone from top to bottom.
ReplyDeleteIt needs historic restoration, NOT a tear down.
DeleteI agree! I am an interior designer that specializes in historic rehabilitation. It would be my dream to renovate this place into a beautiful boutique hotel!
DeleteOpen the hotel up for paranormal investigations and tours. There is a huge appetite for this kind of activity.
ReplyDelete