Active
440 Atascadero Road
Morro Bay CA, 93442
$2,200,000
$526.57 per sqft
Active
4,178 sqft
Commercial
Built in 1953
Listed by Aaron Anderson with Rock View Realty [email protected]
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 these 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!
SC24071159
MLSⓇ ID
April 10, 2024
Listed
August 30, 2024
Updated
Map
440 Atascadero Road
Morro Bay CA, 93442
Interior Features
Total Stories
1
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.37 Acres
Lot Features
11-15 Units/Acre
Other Property Details
Area Name
MRBY - Morro Bay
Days on Market
133
Garage
No
View
No
County
San Luis Obispo
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
6/11/2024 | Price change | $2,200,000 -9% |
Listing Contact: 805-225-3151
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/30/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 8/30/2024 at 8:08 PM UTC