4900 San Palo Road Active Save Request In-Person Tour Request Virtual Tour
Atascadero,CA 93422
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 5,952 sqft
Price per Sqft $579
MLS Listing ID PI-25074010
Style Spanish
Year Built 2000
Lot Size 3.300 Acres
Property Sub-Type Commercial/Residential
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
Interior
Heating Forced Air
Cooling Electric
Flooring Laminate
Fireplaces Type None
Laundry Inside
Exterior
Exterior Feature Satellite Dish
Parking Features Paved,Private,Uncovered,Assigned,Concrete,Driveway
Pool None
Community Features Curbs,Foothills,Hiking,Park,Sidewalks
Utilities Available Propane,Sewer Connected,Water Connected,Cable Connected,Natural Gas Connected
View Y/N Yes
View Hills,Trees/Woods
Building
Lot Description Level with Street,2-5 Units/Acre
Sewer Other,Public Sewer