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Hotel / Midscale


LOLO PASS | MODERN, INDEPENDENT HOTEL/ HOSTEL


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1616 E BURNSIDE ST, PORTLAND, OR 97214

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Financing available:
Inquire About Financing
Transaction Fee:
Learn More
Financing Available
Opportunity Zone
PROPERTY INFORMATION
Asset Type: Property
Primary Property Type: Hotel
Primary Sub-Type: Hotel
Rooms: 87
Building Size (Sq. Ft.): 33,319
Year Built: 2021
Lot Size (Acres): 0.205
Floors: 4
Register to bid for this NEWLY BUILT property in a great Portland, OR location!
Lolo Pass is an independent hotel and hostel with modern amenities built in
2021, catering to 87 guestrooms and 282 guests.
Excellent opportunity to franchise and upbrand into a major brand such as
Hilton, Marriott, IHG, Hyatt, Wyndham, Choice, etc
ONLINE AUCTION
Dec 11 - Dec 13, 2023
BIDDING STARTS IN
20d 20h:40m
Starting bid
$3,300,000
DATA ROOM DOCUMENTS
REGISTER TO BID
Helen ZaverColliersBroker Contact(404) 877-9207
Send Email
Trevor KafouryCBRE, Inc.Broker Contact(503) 499-0050
Send Email
Josh MehlbergerTen-XAsset Manager(949) 379-8633
Send Email
Jason RothColliersBroker Contact(310) 622-1990
Send Email
Auctioneer License
Ten-X RE Arlene Richardson RE Brkr 201215355
Property Id18824173
Event Item2023-Dec-11
Investment
Opportunity
COSTAR
ANALYTICS
DATA
ROOM



PROPERTY INFORMATION

Register to bid for this NEWLY BUILT property in a great Portland, OR location!
Lolo Pass is an independent hotel and hostel with modern amenities built in
2021, catering to 87 guestrooms and 282 guests.
Excellent opportunity to franchise and upbrand into a major brand such as
Hilton, Marriott, IHG, Hyatt, Wyndham, Choice, etc
Lolo Pass maintains a four-star TripAdvisor rating with several positive reviews
regarding the amenities, convenience, and price.
Nestled in Portland's Opportunity Zone and Walker’s Paradise Zone, the asset
offers access to numerous public transit options.
Primary Property Type
Hotel
Type of Ownership
Fee Simple
Building Class
Class B
Assessor's Parcel Number
R225683
Property ID
18824173
Building Size (Sq. Ft.)
33,319
Common Amenities
Business Center, Restaurant, On-Site Bar, Meeting Event Space, Public Access
Wifi, Smoke-Free
Rooms
87
Primary Sub-Type
Hotel
Year Built
2021
Floors
4
Lot Size (Acres)
0.205
Starting Bid
$3,300,000
Unit Amenities
High Speed Internet Access, Patio, Fully-Equipped Kitchen
Building Coverage Ratio
3.73
Primary Property Type
Hotel
Primary Sub-Type
Hotel
Type of Ownership
Fee Simple
Year Built
2021
Building Class
Class B
Floors
4
Assessor's Parcel Number
R225683
Lot Size (Acres)
0.205
Property ID
18824173
Starting Bid
$3,300,000
Building Size (Sq. Ft.)
33,319
Unit Amenities
High Speed Internet Access, Patio, Fully-Equipped Kitchen
Common Amenities
Business Center, Restaurant, On-Site Bar, Meeting Event Space, Public Access
Wifi, Smoke-Free
Building Coverage Ratio
3.73
Rooms
87

DETAILED DESCRIPTION

Lolo Pass at 1616 E Burnside Street is an independent hotel/ hostel with a range
of select services, including a restaurant and bar, guest laundry, a coffee bar,
a kitchen, a rooftop patio with bar, and a flexible gallery space that can be
used for meetings or social functions. Room features available for private,
shared, or group guestrooms offer high-speed internet access and scenic patio
space. Lolo Pass’s unique business model presents a specialized pool of demand
to cater to with little competition in the market – a one-of-a-kind acquisition
opportunity. The Lolo Pass Hotel, newly built in 2021, is an ideal conversion
opportunity with tremendous upside through franchise options including Motto by
Hilton and Tryp by Wyndham as well as many others. The Central Eastside location
in Portland is just across the Willamette River from downtown Portland and
includes a vibrant mix of trendy restaurants, art galleries and more Portland,
Oregon, known for art, culture and self-expression, has ample parks, hiking
trails, and gardens. Tourists can visit the iconic Washington Park, a 410-acre
park including the Oregon Zoo, an authentic Japanese garden, and thousands of
unique blooms at the International Rose Test Gardens. The diverse downtown also
offers vintage stores and a variety of food trucks to explore. The city’s annual
local demand drivers include the Wooden Shoe Tulip Festival, Portland Film
Festival, and Portland Jazz Festival. There are several public transport options
available within the Walker’s Paradise city. With transportation options like a
light rail system, modern street cars, and reliable bus service, traveling is a
breeze. Drivers have easy access to major Portland freeways like Interstates 84,
5, and 405. Portland International Airport, Greyhound bus stops, and the Amtrak
Union station are also convenient for traveling. Multnomah County, part of the
Portland-Vancouver-Hillsboro MSA, has an economy employing upward of more than
446,000 residents. The county's principal industries are manufacturing,
transportation, wholesale and retail trade, and tourism. Portland’s remarkable
tourism stats include accommodating 11.9 million overnight trips, $5.2 billion
in direct spending, $248 million in tax revenues, and the travel industry
supports over 32,700 jobs in the area. The acquisition of Lolo Pass brings a new
ownership opportunity to the market, catering to a unique and demanding traveler
group. Property tours are available by appointment only. Please contact the
listing broker to schedule. Listed by: Trevor Kafoury with Colliers, OR license
#980800010.





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