440 Atascadero RD Save Request In-Person Tour Request Virtual Tour
Morro Bay,CA 93442
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active Under Contract
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