440 Atascadero Road, Morro Bay, CA 93442
Commercial property · 2 recorded sales since 2015
Sold November 2015
Listing Agent: Martha Fellows (DRE #01452717) · Listing Office: Century 21 Troop Real Estate · Contact: (805) 640-1440 · Bought with: Non Member · Non Member Office · MLS #V0-215014219 · Source: CRMLS
About this commercial property
440 Atascadero Road is a 12 unit extended stay hotel that is currently being rented month to month. There are 11 studio units with full bath, and one unit that is a one bedroom with one full bath. All units have a kitchen equipped with gas stove, and refrigerator. Each unit has a separate car port for parking. There is also additional parking at the property plus a garage that is currently being rented for storage. In addition there is a small manager' s office and laundry room. There is coin operated, vendor owned, washer and dryer for tenant use. Please note that the motel license is up to date and the property is legally a motel. The property contains a lot of approximately 15,900 square feet. The current zoning is high density commercial visitor serving, however zone changes to multi-residential have been granted in this general area. The property is offered at less than $100,000 per unit, a conservative 5 % cap rate, and 10 GRM. The income projection is based on rent 10/1/15.
Listing description from the November 2015 sale, as reported to CRMLS.
Sale history
