652 Morro Street, San Luis Obispo, CA 93401
Commercial property · 2 recorded sales since 2025
Sold July 2025
Listing Agent: Erica Hinojosa (DRE #01987938) · Listing Office: Berkshire Hathaway Home Servic · Contact: ehino805@gmail.com · Bought with: Erica Hinojosa · Berkshire Hathaway Home Servic · MLS #PI25094051 · Source: CRMLS
About this commercial property
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.
Listing description from the July 2025 sale, as reported to CRMLS.
Sale history
