Here's one of the BEST OF THE BEST! Penthouse Rockstar Gold Suite. Own the Penthouse on the 12th floor of the Hard Rock Hotel, overlooking the city, convention center, Hard Rock pool, concert area and even enjoy partial views of Coronado Island and San Diego Bay as well. Historic rents indicate a cap rate of 4.4% for the past 6 years. This unit can be combined with unit 1209 (for sale as well) to create an ultimate 2 bed, 2 bath penthouse.
Both 1201 & 1209 units are for sale. They are rented separately or together by the Hard Rock. Verbal historical average for last 5 years for unit 1201 is $52,000 gross profit. Based on estimated value of $750K for just unit 1201 you are looking at roughly 4.25-4.5 cap rate. These just don't go on the market often if ever at all. Considered one of the top units in the Hard Rock these units average higher rents than most all the other units in the building. Excellent corporate opportunity looking to park money, acquire a cap rate and utilize the unit for business, conferences or employee travels. Individual owners can benefit from the same and reap the rewards of always having Comicon accommodations or having the knowledge that you have one of the best units in the entire building.
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