See all 38 photos

Listed by Abel Contreras • Invest SLO

$3,450,000

Est. payment - /mo

Save

5,952 SqFt

Active

4900 San Palo Road Atascadero, CA 93422

Save

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Fri

May

Sat

May

Sun

May

Dolores Park

Corcoran Icon Properties

dpark4re@gmail.com +1(805) 328-1838

UPDATED:

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