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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.
Property Type(s):
Residential Income
| Last Updated | 4/11/2025 | Tract | ATNorthwest(20) |
|---|---|---|---|
| Year Built | 2000 | Community | Atascadero |
| County | San Luis Obispo |
Additional Details
| AIR | Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Oven, Gas Range, Microwave, Refrigerator, Water Heater |
| AREA | Atascadero |
| CONSTRUCTION | Stucco |
| GARAGE | Assigned, Concrete, Driveway, Paved, Private, Uncovered |
| HEAT | Forced Air |
| HOA DUES | 0 |
| INTERIOR | All Bedrooms Down, Bedroom on Main Level, Main Level Primary |
| LOT | 3.3 acre(s) |
| LOT DESCRIPTION | 2-5 Units/Acre, Street Level |
| PARKING | Assigned,Concrete,Driveway,Paved,Private,Uncovered |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Spanish |
| SUBDIVISION | ATNorthwest(20) |
| UTILITIES | Cable Connected,Natural Gas Connected,Propane,Sewer Connected,Water Connected, Electric: Electricity - On Property,Standard |
| VIEW | Yes |
| VIEW DESCRIPTION | Hills,Trees/Woods |
| WATER | Private |
| ZONING | CR |
Location
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Listed with Invest SLO
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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