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Listed by Ginger Woods • Paramount Properties
$ 2,250,000
Est. payment | /mo
5,700 SqFt
$ 2,250,000
Est. payment | /mo
5,700 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,700 sqft
Price per Sqft $394
MLS Listing ID CRSC25074638
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1951
Lot Size 0.285 Acres
Property Sub-Type Other
Property Description
Welcome to Morro Bay where you can still invest and have the numbers make sense. This complex has developed into a very solid, income producing property with EXCELLENT tenants. It is very quiet, no drama, and most of the tenants have been there for years. There was great care in the placement of each tenant over time, and the complex is now a wonderful place to live, and an even more wonderful place to manage. There is plenty of parking and even laundry facilities on site which add to the income. The overhead is very low. Almost none to report. The landscape is very low maintenance and tenants maintain their areas. The building is older, so there have been repairs due to weather over the years, but the owner has kept up with anything that has come up. Prior to the current owner, there had been many modifications over the years to the units. It is hard to know what the original floor plans were, but things have been updated cosmetically, so the older modifications look great. The whole complex is only electric, so the utilities are basic and very low for the tenants. We charge $50 per person for water/trash/sewer as well. This is a great, HUGE lot in what is quickly becoming a very desirable neighborhood.
Location
State CA
County San Luis Obispo
Interior
Heating Electric
Fireplace No
Laundry Other
Building
Water Public
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