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Morro Bay,CA 93442
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 7,200 sqft
Price per Sqft $470
Subdivision North Morro Bay (820)
MLS Listing ID SC24127971
HOA Y/N No
Year Built 1972
Lot Size 0.331 Acres
Property Description
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*
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Zoning Neighborhood Commercial
Rooms
Other Rooms Second Garage
Ensuite Laundry Inside,Laundry Closet
Interior
Interior Features Granite Counters
Laundry Location Inside,Laundry Closet
Heating Electric
Cooling None
Fireplaces Type None
Fireplace No
Appliance Electric Range
Laundry Inside,Laundry Closet
Exterior
Garage Assigned,Garage
Garage Spaces 10.0
Carport Spaces 3
Garage Description 10.0
Pool None
Community Features Sidewalks
Utilities Available Sewer Connected
View Y/N Yes
View Coastline,Hills
Parking Type Assigned,Garage
Total Parking Spaces 23
Private Pool No
Building
Lot Description Corner Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Mediterranean
Level or Stories Two
Additional Building Second Garage
New Construction No
Others
Senior Community No
Tax ID 065072019
Energy Description 403.0
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard,Trust