A historic 22-bedroom hotel in Washington that sat vacant for years is now on the market for less than $200,000. Built in 1917, the ‘landmark’ building with lots of potential is waiting for someone bold enough to take on its future. The Palace Hotel in Odessa, which once thrived as a family enterprise, is now listed at $195,000, according to a report by Realtor.com.The property commands attention not because of what it is now, but because of what it once was and what it can become. The structure spans 4,572 square feet across three levels, with the kind of craftsmanship that is now vanishing from modern construction and architecture. The building features original millwork, a grand staircase, built-in cabinetry, oversized windows and wood panelling throughout. All of these would cost far more to recreate from scratch.
Once a family-run business
Pic credit: Realtor.com
For nearly 50 years, one family took care of the Palace Hotel through its best years. It’s unclear exactly when that operation ended or how long the building has sat vacant, but the gap has certainly taken its toll. The asking price of the property also reflects this reality. This is certainly a project property, not a turnkey investment.The layout gives clues about its past life. The formal living and dining rooms anchor the ground floor, while a kitchen and eat-in area sit nearby; all of these were practical spaces designed for feeding guests. The second level of the building is packed with bedrooms and balconies to maximise guest capacity. The third floor offered more of the same. A lower-level summer kitchen was also built for occasional entertaining and large gatherings.
Pic credit: Realtor.com
The building retains much of its original layout. It’s a historic structure that has survived 107 years with its fundamental design untouched. The property is certainly a project to work on, but offers endless opportunities. It’s ideal for property flippers betting on sweat equity. Or a boutique hotelier with a vision for restoration. Someone dreaming of a large single-family home with more space than they know what to do with. An entrepreneur who sees conference centre or event space potential.Beyond the price tag, there’s work that needs to be done. Though the main structure remains intact, the building is in need of significant updating. The windows need attention, as do the systems.The new owner can either restore, redevelop or completely transform the building into a residence or workplace. With the right resources and, of course, patience, the Palace can become something extraordinary.
