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.
Property Details
Price:
$1,600,000
MLS #:
SC23037389
Status:
Closed ((Jun 27, 2023))
Baths:
0
Address:
2077 Sunset
Type:
Residential Income
Subtype:
Quadruplex
Subdivision:
Bayshore Village 720
Neighborhood:
MRBY – Morro Bay
City:
Morro Bay
Listed Date:
Mar 6, 2023
State:
CA
ZIP:
93442
Lot Size:
10,000 sqft / 0.23 acres (approx)
Year Built:
1951
See this Listing
Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …
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Schools
Interior
Exterior
Community Features
Street Lights
Garage Spaces
4.00
Lot Features
Level with Street
Parking Features
Assigned
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address2077 Sunset Morro Bay CA
- AreaMRBY – Morro Bay
- SubdivisionBayshore Village (720)
- CityMorro Bay
- CountySan Luis Obispo
- Zip Code93442
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Courtesy of Keller Williams Realty Central Coast. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
2077 Sunset
Morro Bay, CA
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