4900 San Palo RD Active Save Request In-Person Tour Request Virtual Tour
Atascadero,CA 93422
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Atnorthwest(20)
MLS Listing ID PI25074010
Year Built 2000
Lot Size 3.300 Acres
Property Sub-Type Mixed Use
Property Description
Offering Mission Cottages - A 100% occupied 12-unit multifamily complex with opportunity for stabilized rent growth. Average Rents for one-bedroom units are $1,866.36/month. Desirable mix of 11 one-bedroom one-bath units and 1 two-bedroom one-bath single-family residence home. Current cap rate above 5% and with some value add, investors can stabilize above a 6% cap rate. All units are fully renovated and rented on a month-to-month basis. The property has been rezoned for mixed use and can be operated as a long-term rental, short-term vacation rentals, and can even have a commercial component. The booming Atascadero submarket has convenient access to wine country, employment offerings, and a 20-minute commute to San Luis Obispo and 10 minutes to Paso Robles. Investors can capitalize on strong projected organic rent growth created by increased housing demand in the North SLO County.
Location
State CA
County San Luis Obispo
Area Atsc - Atascadero
Zoning CR
Rooms
Other Rooms Guest House Detached
Interior
Heating Forced Air
Cooling Electric
Flooring Laminate
Fireplaces Type None
Equipment Satellite Dish
Laundry Inside
Exterior
Parking Features Assigned,Concrete,Driveway,Paved,Private,Uncovered
Fence Chain Link,Wire
Pool None
Community Features Curbs,Foothills,Hiking,Park,Sidewalks
Utilities Available Cable Connected,Natural Gas Connected,Propane,Sewer Connected,Water Connected
View Y/N Yes
View Hills,Trees/Woods
Roof Type Spanish Tile
Building
Lot Description 2-5 Units/Acre,Street Level
Story 1
Foundation Slab
Sewer Public Sewer
Water Private
New Construction No
Others
Acceptable Financing Cash,Conventional,1031 Exchange,Owner Will Carry,Submit
Listing Terms Cash,Conventional,1031 Exchange,Owner Will Carry,Submit
Special Listing Condition Standard