Welcome to your dream investment opportunity in Morro Bay, CA! Nestled close to the Pacific Ocean, the vibrant downtown district, and the Embarcadero, this 9-unit apartment building offers an unparalleled combination of coastal charm and income potential. Embrace the California lifestyle with easy access to white sand beaches and a world class Mediterranean climate. Located in a popular tourist destination, and in close proximity to San Luis Obispo and Paso Robles wine country, the region benefits from strong economics and employment opportunities. The property is situated next to a small shopping center, and is less than one mile from Spencer’s Fresh Markets grocery store and various local favorite restaurants and shops. Just across Highway 1 to the south is the Cloisters Community Park, Morro Bay High School, and access to wide open dunes and beaches. Each of the 9 apartments includes 2 bedrooms and 1 bathroom, offering spacious and comfortable living spaces. Remodeled kitchens and bathrooms feature shaker cabinets, granite counters, dishwashers, and fully equipped appliances. Newer double pane windows, onsite private garages, and separate in-unit laundry ensure convenient living for all. The garages feature automatic openers, power outlets, and large built-in storage cabinets. Onsite parking is available in front of each garage, as well as under a car port offering additional spaces. Featuring queen palms, birds of paradise, and succulents, the attractive low maintenance landscaping is on drip irrigation and compliments the building's vibrant colors and Spanish style architecture. Three ground floor units feature private backyard patios, perfect for outdoor living, bike storage, and gardening. Upstairs units benefit from ocean views, with the largest apartment featuring a spacious balcony that enjoys views of the ocean and Morro Rock. In addition to the 9 apartments, the property includes a well-equipped owner’s workshop and garage complete with access to utilities. Utilize the workshop as your own retreat, or convert the space into an attached Accessory Dwelling Unit (ADU) to further increase income potential and value. There may also be an opportunity to construct two (2) ADUs, bringing the total unit count to 11 (verify with the City of Morro Bay). Don't miss out on this rare opportunity to own a piece of paradise in one of California's most desirable and valuable destinations. *CONTACT LISTING OFFICE BEFORE GOING ONSITE*
|
DAYS ON MARKET
|
131
|
LAST UPDATED
|
9/13/2024
|
|
TRACT
|
North Morro Bay (820)
|
YEAR BUILT
|
1972
|
|
COMMUNITY
|
Morro Bay
|
GARAGE SPACES
|
10.0
|
|
COUNTY
|
San Luis Obispo
|
STATUS
|
Conditional
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
None |
| APPLIANCES |
Electric Range |
| AREA |
Morro Bay |
| GARAGE |
Assigned, Garage, Yes |
| HEAT |
Electric |
| HOA DUES |
0 |
| INTERIOR |
Granite Counters |
| LOT |
0.33 acre(s) |
| LOT DESCRIPTION |
Corner Lot |
| PARKING |
Assigned,Garage |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| STYLE |
Mediterranean |
| SUBDIVISION |
North Morro Bay (820) |
| UTILITIES |
Sewer Connected, Electric: Standard |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Coastline,Hills |
| WATER |
Public |
| ZONING |
Neighborhood Commercial |
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Listed with Richardson Sotheby's International Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/24 10:21 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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