PORT TOWNSEND – A couple who emigrated to America and worked their way up to owning their own business has purchased the Harborside Inn for $6,130,000.
Sun and Amy Choi are the new owners of the waterfront motel, which overlooks the Port Townsend Boat Haven commercial dock.
“Our role now is to develop the building and bring it up to the value we paid for it,” said David Elling, an Anacortes commercial real estate developer who helped the couple find the property.
Elling said that the price for the 63-room motel – confirmed by Jami Trafton of the Jefferson County Assessor’s Office – was justified based on replacement value and comparable property.
Nearly 3 acres in size, the property includes 72 parking spaces and an outdoor pool and spa as well as the 36,000 square-foot, three-story building.
The couple looked at the property last spring, Elling said, but it was tentatively spoken for.
When it became available this fall, he did an assessment of the income potential and advised the Chois to buy.
“What added value to this property is the past history,” Elling said.
“The occupancy rate is so high here.”
