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The Inn At 657


Los Angeles, CA   Offered for sale at $2,250,000
 

In downtown Los Angeles, one mile South of the Staples Center complex and I mile North of USC and directly across the street from Mount St. Mary’s University, Downtown Campus, is The Inn At 657.

Originally located at 657 W. 23rd St., when the large Italinate-style house next door - 663- became available in 1990, Proprietor Patsy Carter purchased it. For business reasons the name “657 “, was retained. A purchaser would want to rename the business, while retaining its long history of good will.

The gracious 663 building was perfectly adaptable for B & B use with ample parking. It was beautifully renovated with new wiring, plumbing and room controlled A/C.

It may be the only legal B & B in Los Angeles because it conforms to zoning ( a tough hurdle in LA) parking and safety requirements. The legalization process cost about $50,000.00 and untold hours. it is also certified for use as a boarding house which makes it suitable for group living.

The 4800 sq. ft building has 15 rooms and other incidental space. An important space is the very private owner’s suite. The design of the building allows the owner to come and go privately and to entertain friends and neighbors with privacy. Happily running a B & B is dependent on privacy for the Proprietor .

The result is a building perfectly suited for a B & B especially with its very large, functional kitchen which is directly connected to the comfortable dining area. The cook -who for most of the 22 years she was proprietor was Patsy - is right there with the guests.


“Though I loved teaching and then practicing law, operating my B&B was more interesting and creative than anything else,” Patsy says. “I cooked for guests from all over the world while we talked about every topic under the sun. Conversations ranged from string theory physics to luminescent fish. Everyone graciously shared their specialty.”

Because the nearby museums bring curators from all over the world - faculty and lecturers visit nearby universities; musicians from around the world perform at the Da Camera Society concerts; both doctors and patients are drawn by nearby hospitals; business people, and tourists abound- marketing is a slam dunk.

The Inn is a short walk to bus stops and light rail as well as Staples Center and USC so many guests do not bother with a car.

Occupancy was never a prime focus. While concentrating on current guests and her aged parents, recommendations and unsolicited reviews by previous guests provided enough occupancy for a comfortable income.

Even with minimal marketing effort, income for 2017, the last full year of operation, was $176,000.00 with more than a few weeks closed for vacation. Though marketing with little more than a website and unsolicited reviews, and operating for only 345 days, The Inn earned approximately $500.00 a day at only 50% occupancy.

It would be easy to increase occupancy, especially were proprietary duties shared by 2 people. The occupancy rate would also benefit from more internet savvy.

If you have dreamed of owning a B&B, this property is your opportunity to:
Live in a spacious comfortable home;
Accumulate income daily:
Invest in a property that increases in value;
Create in your kitchen while conversing with the
world’s most engaging guests.

See: theinnat663.com for pictures and room diagrams.



Property Details
  • Former Inn
  • 9 Guest Rooms
  • 8 Guest Room Baths
  • Has Owner's Quarters
  • Built in 1907
  • Last Renovated in 1990
  • Opened in 1990
  • Building is 4,800 SQFT
  • Lot is 0.22 Acres
  • Photo Gallery
  • Property Website
Financial Details
  • Offered for sale at $2,250,000
  • Occupancy Rate: 45- 50%
  • Average Daily Rate: $165.00
  • Annual revenue is $176,000
  • Terms: cash
  • Prequalify for Inn Financing on this property
Contact Information