440 Atascadero RD Active

Morro Bay,CA 93442

$ 2200000

- Bed

- Bath

4178 SqFt


Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

Square Footage 4,178 sqft

Price per Sqft $526

MLS Listing ID SC24071159

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 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!

Location

State CA

County San Luis Obispo

Area Mrby - Morro Bay

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Laundry Common Area

Building

Lot Description 11-15 Units/Acre

Story 1

Water Public

Others

Acceptable Financing Cash to New Loan,Conventional

Listing Terms Cash to New Loan,Conventional

Special Listing Condition Standard

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