Compton hotel and casino listed for $16M - Tuesday 24th of March 2009

The Crystal Casino Hotel, a 238-room property in Compton, Calif., has been placed on the market with a listing price of $16 million.

Gordon Allred, vice president investments and director of Marcus & Millichaps Ontario office, is representing the seller.

Located at 123 East Artesia Blvd., the nine-story hotel and casino is situated on 9.19 acres along the Alameda Corridor between Long Beach and Los Angeles. Crystal Casino Hotel is comprised of eight floors with 238 keys above the leased ground floor, which contains the casino, restaurant and bar. The seller will lease back the entire ground floor for $600,000 per year and retain operation of the casino, restaurant and bar.

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