440 Atascadero RD Save Request In-Person Tour Request Virtual Tour
Morro Bay,CA 93442
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 4,178 sqft
Price per Sqft $526
Subdivision Highway 41(770)
MLS Listing ID SC24023835
HOA Y/N No
Year Built 1953
Lot Size 0.366 Acres
Acres 0.3659
Property Description
Price reduced! Historical photos added! This can be your opportunity to purchase 12 residential apartment units and a rentable storage garage in Morro Bay just blocks from the beach. This is a single level building that requires low maintenance, has a shared laundry facility, a dedicated carport parking space for 11 of the 12 units, and it's incredibly convenient location, make this complex desirable for owners and tenants alike. The complex is in close proximity to parks, trails, restaurants, a gas station, grocery stores, schools, and public transportation, which makes it easy for residents to enjoy the Central Coast lifestyle. Monthly income has remained steady and predictable for years, as these units rent very quickly. There are eleven studio apartments and one 1-bedroom apartment in the complex, and there is also an additional, rentable garage unit (currently rented), which combine to generate solid monthly revenue across the 12 units. Each residential unit is equipped with a separate kitchen, medium-sized refrigerator, range oven, full bathroom, beam ceiling, and a wall heater. Zoned Commercial-Visitor Serving (C-VS) but fully occupied with long-term tenants, this conveniently located parcel sits on Atascadero Road within the city limits of Morro Bay, providing easy access to Highway 41, Highway 101, and scenic Highway 1. Buyers seeking a well located, turnkey income opportunity can look forward to years of successful ownership, while opportunities abound for those considering redevelopment in the near or distant future. As always, please check with Morro Bay Community Development for zoning and building allowances, and act fast. Easy, multi-unit complexes like this one don't last long! New Water Heater installed on 5/22/2024.
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Zoning CVS
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Attached Carport
Pool None
Community Features Biking,Dog Park,Fishing,Golf,Hiking,Park,Water Sports
Parking Type Attached Carport
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 068283032
Energy Description 5232.0
Acceptable Financing Cash to New Loan,Conventional
Listing Terms Cash to New Loan,Conventional
Special Listing Condition Standard
Lease Land No