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881 Manhattan AVE Grover Beach, CA 93433
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Key Details
Sold Price $1,349,000
Property Type Multi-Family
Sub Type Fourplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRPI23138131
Sold Date 01/16/24
Originating Board California Regional MLS
Year Built 1962
Lot Size 7,302 Sqft
Property Description
881 Manhattan Ave is a 4-unit Apartment Building located just backs from the water. This property is uniquely positioned well below the sold and active comparable sales, while generating over $9,100/month in income. A rare opportunity to acquire a building performing at a 5.5% + cap rate upon acquisition. The 4-units are all comprised of a large 2bed/1ba living areas. Approximately 870 Sq ft units. The property is zoned R3 - with enough lot area to build an additional ADU. The lot offers 4 individual parking spaces with ample parking for the current tenant profile.
Location
State CA
County San Luis Obispo
Area Grvc - Grover Beach
Interior
Heating Wall Furnace
Cooling None
Laundry Gas Hookup, 30, Other
Exterior
Garage Assigned Spaces, Covered Parking, Detached Garage, Other
Garage Spaces 8.0
Pool None
View Ocean, 30
Roof Type Shingle
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 060281024
Special Listing Condition Not Applicable
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Bought with Lillie Missbrenner