Atascadero, CA 93422 4900 San Palo Road
$3,450,000
33 more
Presented By: Abel Contreras with Invest SLO; 805-709-7143
Beds • 1
Baths • 1
SQFT • 5,952
Year Built • 2000
Home Details
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.
Presented By: Abel Contreras with Invest SLO; 805-709-7143
Interior Features for 4900 San Palo Road
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Laundry FeaturesInside
Total Stories1
Window FeaturesDoublePaneWindows
Other Rooms
Entry Level1
General for 4900 San Palo Road
Additional Parcels Y/NNo
AppliancesGasOven, GasRange, Microwave, Refrigerator, WaterHeater
Architectural StyleSpanish
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.32
Carport Spaces0.0
Carport Y/NNo
CityAtascadero
Community FeaturesCurbs, Foothills, Hiking, Park, Sidewalks
Construction MaterialsStucco
CoolingElectric
CountySan Luis Obispo
Current FinancingNone
DirectionsStart on US-101 N, take exit 220B onto San Anselmo Rd, turn left onto San Anselmo Rd, turn left onto San Palo Rd, the destination is on your right.
DisclosuresConditionalUsePermit
ElectricElectricityOnProperty, Standard
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationFront Door
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income0.0
HOANo
HOA Fee$0.0
HeatingForcedAir
Home Warranty Y/NNo
Insurance Expense0.0
Interior FeaturesAllBedroomsDown, BedroomOnMainLevel, MainLevelPrimary
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCash, Conventional, Exchange1031, OwnerWillCarry, Submit
Lot Size Square Feet143748.0
Lot Size UnitsSquareFeet
MLS AreaATSC - Atascadero
MobileHomeRemainsYNNo
Net Operating Income183540.0
New ConstructionNo
Number Of Units Total12
Number of Units Leased12
Open Parking Spaces28.0
Operating Expense92779.0
Other StructuresGuestHouseDetached
Pool FeaturesNone
PossessionNegotiable
Property Attached Y/NYes
Property ConditionUpdatedRemodeled, Turnkey
Property Sub Type AdditionalMixedUse
Property SubtypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NNo
RoofSpanishTile
Security FeaturesCarbonMonoxideDetectors, FireDetectionSystem, ResidentManager, SmokeDetectors
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Subdivision NameATNorthwest(20)
Tax Lot1
Tenant PaysSeeRemarks
Total Actual Rent23730.0
Trash Expense0.0
UtilitiesCableConnected, NaturalGasConnected, Propane, SewerConnected, WaterConnected
ViewHills, TreesWoods
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built2000
Year Built SourcePublicRecords
ZoningCR
Exterior for 4900 San Palo Road
Building Area Total5952.0
Crops Included Y/NNo
FencingChainLink, Wire
Foundation DetailsSlab
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre, StreetLevel
Lot Size Acres3.3
Lot Size Area143748.0
Lot Size SourcePublicRecords
Number of Buildings8
Number of Separate Electric Meters1
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
Other EquipmentSatelliteDish
Parking FeaturesAssigned, Concrete, Driveway, Paved, Private, Uncovered
Private PoolNo
Road Frontage TypeCityStreet
Road Surface TypePaved
SpaNo
Total Parking28.0
Water SourcePrivate
Additional Details
Price History
Alexandra Eston
Sales Associate
Price
$3,450,000
MLS#PI25074010
List Date
04/11/2025
Property Type
Multi-Family
Phone
(562) 537-4182
