Homes for sale - 440 Atascadero RD, Morro Bay, CA 93442

Additional details

Paul Ward

somis@homeandranchsellingteam.com +1(805) 479-5004

$2,200,000

Est. payment - /mo

0.37 Acres Lot

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UPDATED:

12/05/2024 05:28 AM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Highway 41(770)

MLS Listing ID SC24023835

HOA Y/N No

Year Built 1953

Lot Size 0.366 Acres

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

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features Attached Carport

Pool None

Community Features Biking, Dog Park, Fishing, Golf, Hiking, Park, Water Sports

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

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Listed by Aaron Anderson • Rock View Realty • aaron@rockviewrealty.com

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Paul Ward

+1(805) 479-5004

Agent | License ID: 01354001

Agent License ID: 01354001

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440 Atascadero RD Morro Bay, CA 93442

Paul Ward

Key Details

Location

Interior

Exterior

Building

Others

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