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4900 San Palo Road

Atascadero, CA 93422

$3,450,000

| 5,952 sq. ft.

Status: Active Area: ATSC - Atascadero
Year Built: 2000 MLS#: PI25074010

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.

Features

    Other Rooms: All Bedrooms Down, Kitchen, Living Room, Main Floor Bedroom, Main Floor Primary Bedroom Appliances: Gas Oven, Gas Range, Microwave, Refrigerator, Water Heater
     Fireplace Rooms: None
    Heating: Forced Air
    Cooling: Electric
    Structure Type: Spanish
    Association Amenities: N/A
    Pool Descriptions: None
    Price/sqft: $580
    Parking Spaces: 28
    Total Floors: 1

Listing is Courtesy of: Underwood Mortgage Group | Use of this site means you agree to the Terms of Use

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