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Listed by Abel Contreras • Invest SLO
$ 3,450,000
Est. payment | /mo
5,952 SqFt
$ 3,450,000
Est. payment | /mo
5,952 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,952 sqft
Price per Sqft $579
MLS Listing ID CRPI25074010
HOA Y/N No
Originating Board Datashare California Regional
Year Built 2000
Lot Size 3.300 Acres
Property Sub-Type Other
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
Interior
Heating Forced Air
Cooling Other
Flooring Laminate
Fireplace No
Laundry Inside
Exterior
View Hills, Trees/Woods
Building
Lot Description Level
Water Private
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