The Motel 500/Best Bet Motel, located on the corner of Center and Stewart Street, south of the Discovery Museum, has sold for $6,800,000. The property is now fenced off, with notices posted on all the doors. I didn't want to trespass to read what the notices say, since the entire property is fenced off. There is also a trailer parked parallel to the motel within the fence.
It 'seems' as though the place has been vacated, I walk by it several times a day and don't see the usual activity and people hanging out on the property.
There is a permit from May for replacing the two staircases, so perhaps the fencing off is related to that? Here's the permit. I don't know if the work for that permit has been done already, or that's what's going on here. But I've been getting a lot of questions and inquiries about it.
The property was sold to CSHV CENTER ST LLC, which if you look up an entity search on the Secretary of State web site, is actually the California State Teachers' Retirement System. Interesting!
sweeet! The more of these motels that go down the better!