Thank you
Aaron Anderson
Rock View Realty
805-225-3151
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 13 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!
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Water Source : Public
Sewer : Public Sewer
Year Built: 1953
Building Area Total: 4,178
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3659
Lot Size Source: Assessor
Lot Size Square Feet: 15939
Original List Price: 2,400,000
Listing Contract Date: 2024-01-28
Listing Agreement: Exclusive Right To Sell
Parcel Number: 068283032
Garage Description: Attached Carport
Lease Term: Negotiable
Tenant Pays: None
Source Listing Status: Active
Source Neighborhood: MRBY - Morro Bay
Postal Code Plus 4: 1698
Directions: Hwy 1 to the Atascadero Rd / HWY 41 exit. Property is on the right just as you leave Morro Bay.
Zoning: CVS
Source Property Type: Residential Income
Area: MRBY - Morro Bay
Property SubType: Mixed Use
Property Age: 71
Common Walls: 2+ Common Walls
Structure Type: Mixed Use
Year Built Source: Public Records
Entry Level: 1
Entry Location: under carport
Property Attached: Yes
Levels or Stories: One
Building Total Stories: 1
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
781 Market Avenue, Morro Bay, CA,93442 | $3,890,000 | -- | -- | -- | 69696 Sqft |
660 Sequoia Court, Morro Bay, CA,93442 | $750,000 | -- | -- | -- | 235224 Sqft |
545 Atascadero Road, Morro Bay, CA,93442 | $699,000 | -- | -- | -- | 25000 Sqft |
545 Atascadero Road, Morro Bay, CA,93442 | $699,000 | -- | -- | -- | 25000 Sqft |
1680 Main Street #32, Morro Bay, CA,93442 | $160,000 | 1 | 1 | 399 | -- |
Little Morro Creek Road, Morro Bay, CA,93442 | $975,000 | -- | -- | -- | 1536796.8 Sqft |
Atascadero Road, Morro Bay, CA,93442 | $3,900,000 | -- | -- | -- | 162479 Sqft |
520 Zanzibar Street, Morro Bay, CA,93442 | $1,225,000 | 3 | 1 | 1,728 | 3150 Sqft |
3500 LOT 38 Panorama Dr.., Morro Bay, CA,93442 | $1,790,800 | -- | -- | -- | 1772892 Sqft |
3500 LOT #36 Panorama D.., Morro Bay, CA,93442 | $1,933,900 | -- | -- | -- | 2047320 Sqft |
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ByOwner last updated this listing 05/19/2024 @ 04:50
MLS: SC24023835
LISTED BY: Aaron Anderson, Rock View Realty
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.