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Listed by Abel Contreras • Invest SLO
$3,450,000
Est. payment /mo
3.3 Acres Lot
Active
4900 San Palo RD Atascadero, CA 93422
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPI25074010
Style Spanish
Year Built 2000
Lot Size 3.300 Acres
Source California Regional MLS
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
Rooms
Kitchen Microwave, Oven Range - Gas, Refrigerator, Oven - Gas
Interior
Heating Forced Air
Cooling Central Forced Air - Electric
Flooring Laminate
Laundry Other
Exterior
Parking Features Assigned Spaces, Private / Exclusive, Other, Uncovered Parking
Garage Spaces 28.0
Pool 31, None
View Hills, Forest / Woods
Roof Type Tile
Building
Lot Description Grade - Level
Story One Story
Foundation Concrete Slab
Water Hot Water, Private
Architectural Style Spanish
Others
Tax ID 049225017
Special Listing Condition Not Applicable
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