440 Atascadero Road

Morro Bay, CA 93442

$2,200,000
Price
—
Beds
12
Baths
4,178 Sq. Ft.
$527 / Sq. Ft.
4,178
Sq. Ft.
$527
per Sq. Ft.

Description

Price reduced! Historical photos added! This can be your opportunity to purchase 12 residential apartment units and a rentable storage garage in Morro Bay just blocks from the beach. This is a single level building that requires low maintenance, has a shared laundry facility, a dedicated carport parking space for 11 of the 12 units, and it's incredibly convenient location, make this complex desirable for owners and tenants alike. The complex is in close proximity to parks, trails, restaurants, a...Price reduced! Historical photos added! This can be your opportunity to purchase 12 residential apartment units and a rentable storage garage in Morro Bay just blocks from the beach. This is a single level building that requires low maintenance, has a shared laundry facility, a dedicated carport parking space for 11 of the 12 units, and it's incredibly convenient location, make this complex desirable for owners and tenants alike. The complex is in close proximity to parks, trails, restaurants, a gas station, grocery stores, schools, and public transportation, which makes it easy for residents to enjoy the Central Coast lifestyle. Monthly income has remained steady and predictable for years, as these units rent very quickly. There are eleven studio apartments and one 1-bedroom apartment in the complex, and there is also an additional, rentable garage unit (currently rented), which combine to generate solid monthly revenue across the 12 units. Each residential unit is equipped with a separate kitchen, medium-sized refrigerator, range oven, full bathroom, beam ceiling, and a wall heater. Zoned Commercial-Visitor Serving (C-VS) but fully occupied with long-term tenants, this conveniently located parcel sits on Atascadero Road within the city limits of Morro Bay, providing easy access to Highway 41, Highway 101, and scenic Highway 1. Buyers seeking a well located, turnkey income opportunity can look forward to years of successful ownership, while opportunities abound for those considering redevelopment in the near or distant future. As always, please check with Morro Bay Community Development for zoning and building allowances, and act fast. Easy, multi-unit complexes like this one don't last long! New Water Heater installed on 5/22/2024.
  1. Listed by Aaron Anderson • DRE #01408502 • Brokerage DRE #01408502 • Rock View Realty • aaron@rockviewrealty.com

Property Details for 440 Atascadero Road

Parking Spaces Total
0
Private Pool
No
Total Units
13.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4178
Assessor Parcel Number
068283032
Property Attached YN
true
LISTING UPDATED: 10/21/2024 01:15 PM

Property Details for 440 Atascadero Road

StatusActive
MLS #SC24023835
Days on Market289
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1953
Lot Size0.37 AC / 15,939 SF
CountySan Luis Obispo County

Building Information for 440 Atascadero Road

Stories1Residences-Year Built1953Building Size-Lot Size0.37 AC / 15,939 SF

Property Information for 440 Atascadero Road

Rental Info
Rental Info
  • Tenant Pays: None
Income / Expense / Tax Details
Income Details
  • Gross Income: $186,900
  • Gross Scheduled Income: $186,900
  • Net Operating Income: $112,833
  • Number Of Rented Garages: 1
  • Garage Rental Rate: $125
  • Garage Income: $1,500
  • Laundry Income: $775
Expense Details
  • Operating Expense: $74,076
  • Fuel Expense: $5,232
  • Electric Expense: $6,693
  • Insurance Expense: $7,200
  • Maintenance Expense: $17,550
  • Professional Management Expense: $20,159
  • Trash Expense: $2,636
  • Water Sewer Expense: $14,597
  • Total Expenses: $74,076
Tax / Assessment Info
  • Tax Block: 3
  • Tax Tract Number: 47
  • Tax Census Tract: 105.05
  • Tax Lot: 12
Community / Development
Community / Development
  • Community Features: Biking, Dog Park, Fishing, Golf, Hiking, Park, Watersports
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community
Exterior Features
  • Entry Location: under carport
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 13
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Attached Carport
Property / Structure Info
  • Builders Tract Name: Highway 41
  • Builders Tract Code: Highway 41(770)
Unit Information
Unit 1
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 13
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 0
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0
  • Number With Range: 12
  • Number With Refrigerator: 12

Property History for 440 Atascadero Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 440 Atascadero Road

Taxable ValueLand$676,260Additions$1,196,460Total$1,872,720
Tax Record2024$20,696 ($1,725 / month)
Home Facts
Total Finished SqFt4,178 SqFtAbove Grade Finished SqFt4,178 SqFtLot Size15,939 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningCVSCountySAN LUIS OBISPOAPN068-283-032

Schools near 440 Atascadero Road

This home is within San Luis Coastal Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Del Mar Elementary School
PublicK to 5

Los Osos Middle School
Public6 to 8

Morro Bay High School
Public9 to 12

Pacheco Elementary School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

440 Atascadero Road is a mixed use property for sale in Morro Bay, CA 93442. This property was listed for sale on February 8, 2024 by Rock View Realty, it's currently listed at $2,200,000. It has been on the market for a total of 289 days and was last sold on November 13, 2015. This listing's school district is San Luis Coastal Unified School District. Nearby schools include Del Mar Elementary School, Los Osos Middle School and Morro Bay High School. 440 Atascadero Road is a 0-bed, 12-bath, 4,178 sqft mixed use property built in 1953.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Rock View Realty, Aaron Anderson, DRE #01408502

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.