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Welcome to Morro Bay where you can still invest and have the numbers make sense. This complex has developed into a very solid, income producing property with EXCELLENT tenants. It is very quiet, no drama, and most of the tenants have been there for years. There was great care in the placement of each tenant over time, and the complex is now a wonderful place to live, and an even more wonderful place to manage. There is plenty of parking and even laundry facilities on site which add to the income. The overhead is very low. Almost none to report. The landscape is very low maintenance and tenants maintain their areas. The building is older, so there have been repairs due to weather over the years, but the owner has kept up with anything that has come up. Prior to the current owner, there had been many modifications over the years to the units. It is hard to know what the original floor plans were, but things have been updated cosmetically, so the older modifications look great. The whole complex is only electric, so the utilities are basic and very low for the tenants. We charge $50 per person for water/trash/sewer as well. This is a great, HUGE lot in what is quickly becoming a very desirable neighborhood.
Property Type(s):
Residential Income
| Last Updated | 4/5/2025 | Tract | North Morro Bay (820) |
|---|---|---|---|
| Year Built | 1951 | Community | Morro Bay |
| County | San Luis Obispo |
Additional Details
| AREA | Morro Bay |
|---|---|
| HEAT | Electric |
| LOT | 0.28 acre(s) |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | North Morro Bay (820) |
| UTILITIES | Sewer Connected |
| WATER | Public |
| ZONING | CIN |
Location
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Listed with Paramount Properties
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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