CA > San Luis Obispo > San Luis Obispo(380)
San Luis Obispo, CA 93401,652 Morro ST
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San Luis Obispo, CA 93401,652 Morro ST
San Luis Obispo, CA 93401,652 Morro ST
San Luis Obispo, CA 93401,652 Morro ST
San Luis Obispo, CA 93401,652 Morro ST
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Terri Fox

Terri Fox

+1(760) 585-8860
$ 3,200,000
Est. payment /mo
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652 Morro ST San Luis Obispo, CA 93401

0.5 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision San Luis Obispo(380)

MLS Listing ID PI25097884

HOA Y/N No

Year Built 1948

Lot Size 0.499 Acres

Property Sub-Type Mixed Use

Property Description

Very rare investment opportunity in downtown San Luis obispo. Historically operated as a boutique motel in a prime location just a few short blocks away from restaurants, shopping, theaters, city services and all downtown has to offer. This property consists of a total of thirteen standalone units including a 2 bedroom home with two car garage and twelve separate cottages. The individual furnished cottages consist of eight 1 bedroom units and four studios. This unique corner lot of almost 1/2 acre offers residents very close proximity to all of the downtown amenities and Cal Poly along with the onsite conveniences of a separate laundry facility and designated parking. The current below market rents present a huge short term upside opportunity for any experienced investor. Additionally, the long term redevelopment potential of this property would be highly desirable to any opportunistic investor or developer. The new owners can choose to operate this asset as either a motel, Airbnb, long term rental or combination thereof, laying the foundation for the ultimate operational flexibility in maximizing cash flow while they plan for the future redevelopment. Don't let this once in a lifetime investment opportunity slip through your fingers as these types of properties do not come available often.

Location

State CA

County San Luis Obispo

Area Slo - San Luis Obispo

Interior

Inclusions Furnished Rooms/Appliances

Fireplace No

Laundry Common Area, In Garage

Exterior

Parking Features Assigned, Garage, On Site

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 17

Private Pool No

Building

Lot Description Sloped Up

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 002311001

Acceptable Financing Cash, Owner May Carry

Listing Terms Cash, Owner May Carry

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Erica Hinojosa • Berkshire Hathaway Home Servic • ehino805@gmail.com
agent

Terri Fox

Agent | License ID: 01110385

+1(760) 585-8860

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652 Morro ST