4900 San Palo Rd - Apartments FOR SALE


Atascadero, CA 93422- Atascadero/Templeton
$3,450,000 USD
805-709-7143
4900 San Palo Rd, Atascadero, CA for Sale
$3,450,000 USD
Apartments - FOR SALE
1/34
null | 5.1% Cap Rate

4900 San Palo Rd
Atascadero, CA 93422
Atascadero/Templeton


HIGHLIGHTS

  • Turn-key units, low maintenance, rents close to market with additional upside.
  • Ask about seller financing.
  • 5.1% entry cap

OVERVIEW

Offering Mission Cottages - A 100% occupied 12-unit multifamily complex with opportunity for stabilized rent growth. Average Rents for one-bedroom units are $1,866.36/month. Desirable mix of 11 one-bedroom one-bath units and 1 two-bedroom one-bath single-family residence home. Current cap rate above 5% and with some value add, investors can stabilize above a 6% cap rate. All units are fully renovated and rented on a month-to-month basis. The property has been rezoned for mixed use and can be operated as a long-term rental, short-term vacation rentals, and can even have a commercial component. The booming Atascadero submarket has convenient access to wine country, employment offerings, and a 20-minute commute to San Luis Obispo and 10 minutes to Paso Robles. Investors can capitalize on strong projected organic rent growth created by increased housing demand in the North SLO County.

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$568 USD /SF

# OF UNITS

12

PRICE/UNIT

$287,500

CAP RATE

5.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mission Cottages 12 Unit Apartment Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

Mixed use

APN/PARCEL ID

049-225-029

ASK ABOUT THIS PROPERTY

Abel ContrerasInvestSLOMore Info
805-709-7143

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Abel ContrerasInvestSLOMore Info
805-709-7143

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.