Atascadero, CA93422
| 5952 sqft | MLS# PI25074010
Tract: ATNorthwest(20)
For Sale $3,450,000
Description
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.
Facts
| Built in 2000 | Lot Size: 143748.00 sqft | HOA Dues: $0/month
Features
Listing provided by Abel Contreras, Invest SLO
Based on information from California Regional Multiple Listing Service, Inc. as of June 18, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
