$1,600,000
$1,600,000
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10,001 Sqft Lot
SOLD DATE : 06/27/2023
Key Details
Sold Price $1,600,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Bayshore Village (720)
MLS Listing ID SC23037389
Sold Date 06/27/23
HOA Y/N No
Year Built 1951
Lot Size 10,001 Sqft
Property Description
Multi-Unit Property consisting of 3 buildings, 5 units total, currently netting over $70K with a cap rate of 4.4. The original structure is a 1951 single level, approx. 640 sq ft Cottage featuring 1 bedroom, 1 bath, updated with all new electrical, plumbing, drywall, LED recessed lighting, bamboo flooring, antique interior doors with new hardware and dual paned windows. The bathroom has been updated with tile floors, new shower enclosure, faucets and antique medicine cabinet and is renting for $1500/month. The 2nd structure built in 1976 consists of 2 units, each 2 stories with 2 bedrooms 1.5 baths, approx 950 sq ft each, featuring a deck, bamboo flooring, tile in the bath, dual paned windows, and each have a single car garage and additional assigned parking space and both rent for $1950/month each. The 3rd structure also built in 1976 consists of an upstairs single level 2 bedroom 1 bath unit approx 750 sqft, featuring a view deck, bamboo floors, dual paned windows, tile in the bath and a garage and rents for $2100/month. An unpermitted Studio was added by the former owner, featuring approx 300 sq ft with a new stove, noise reduction ceiling work, and rents for $1250/month. The middle garage was converted to shared laundry plus storage for the tenants in that structure. Too many upgrades and improvements to mention! Great investment opportunity, or live in one unit and rent out the others for income potential. Ideal location just minutes to the beach, the Embarcadero, great seafood and shopping.
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Interior
Fireplace No
Laundry Common Area, In Garage
Exterior
Parking Features Assigned
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Street Lights
Total Parking Spaces 4
Private Pool No
Building
Lot Description Street Level
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 068314021
Energy Description 1125.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Other
Special Listing Condition Standard
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Bought with Frankie Ciano • Compass
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "