4900 San Palo Road
Atascadero, CA, 93422
$3,450,000
Beds
0 Baths
SqFt
3.3 Acres
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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 Details

Price:
$3,450,000
MLS #:
PI25074010
Status:
Active
Baths:
0
Address:
4900 San Palo Road
Type:
Residential Income
Subtype:
Commercial/Residential
Subdivision:
ATNorthwest20
Neighborhood:
atscatascadero
City:
Atascadero
Listed Date:
Mar 31, 2025
State:
CA
ZIP:
93422
Lot Size:
143,748 sqft / 3.30 acres (approx)
Year Built:
2000
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Interior

Appliances
Gas Oven, Gas Range, Microwave, Refrigerator, Water Heater
Cooling
Electric
Flooring
Laminate
Heating
Forced Air
Laundry Features
Inside

Exterior

Architectural Style
Spanish
Community Features
Curbs, Foothills, Hiking, Park, Sidewalks
Construction Materials
Stucco
Exterior Features
Satellite Dish
Other Structures
Guest House Detached
Parking Features
Assigned, Driveway, Concrete, Paved, Private, Uncovered
Parking Spots
28.00
Roof
Spanish Tile
Security Features
Carbon Monoxide Detector(s), Fire and Smoke Detection System, Resident Manager

Financial

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Community

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