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RARE OPPORTUNITY TO PURCHASE THIS LEGACY PROPERTY. IT IS A 7 UNIT MULTI FAMILY COMPLEX, ONE BLOCK FROM THE BEACH, IN THE DOWNTOWN CORE OF PISMO BEACH. THER ARE 3 STAND ALONE UNITS, A DUPLEX, AND 2 UNITS AT REAR OF THE PROPERTY. THERE ARE 4 GARAGES THAT ARE RENTED OUT AS WELL. RENTS ARE BELOW MARKET, BUT HUGE UPSIDE POTENTIAL, WITH THE CITY ALLOWING UP TO 4 SHORT TERM RENTAL LICENSES FOR THE PROPERTY. CURRENT MARKET RENTS TOTAL $18,000 PER MONTH. THE UNIT MIX IS, 4- 1 BED,1 BATH, 1-2 BED, 2 BATH, 1 -STUDIO AND A 2 BED, 1 BATH HOUSE, WITH A FENCED FRONT YARD.THIS PROPERTY WOULD BE A GREAT BEACH GETAWAY, WITH PLENTY OF ROOM TO STORE THE BEACH TOYS AND STILL GENERATE VACATION RENTAL INCOME.
Property Type(s):
Residential Income
| Last Updated | 9/16/2024 | Tract | Pismo Beach (360) |
|---|---|---|---|
| Year Built | 1950 | Community | Pismo Beach |
| Garage Spaces | 4.0 | County | San Luis Obispo |
Price History
| Prior to Aug 2, '24 | $3,799,000 |
|---|---|
| Aug 2, '24 - Sep 16, '24 | $3,690,000 |
| Sep 16, '24 - Today | $3,490,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | Pismo Beach |
| GARAGE | Assigned, Yes |
| HEAT | Ductless, Wall Furnace |
| LOT | 10875 sq ft |
| LOT DESCRIPTION | 11-15 Units/Acre |
| PARKING | Assigned |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | Pismo Beach (360) |
| UTILITIES | Cable Available,Electricity Connected,Natural Gas Connected,Sewer Connected |
| WATER | Public |
| WATERFRONT | Yes |
| WATERFRONT DESCRIPTION | Ocean Side Of Freeway |
| ZONING | R4 |
Location
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Listed with Century 21 Hometown Realty, Arroyo Grande Office
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This IDX solution is (c) Diverse Solutions 2024.
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