4900 San Palo Road
Atascadero, CA 93422
- – beds
- – baths
- – sqft
- ~3 acre lot
- 2000 build
- – on site
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.
Last checked:
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Last updated Apr 12, 2025
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MLS# PI25074010 —
The Building
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Year Built:2000
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Year Built Source:Public Records
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New Construction:No
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Construction Materials:Stucco
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Building Area Total:5952.00
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Building Area Units:Square Feet
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Total Number Of Units:12
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# of Buildings:8
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Architectural Style:Spanish
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Roof:Spanish Tile
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Foundation:Slab
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Exterior Features:Satellite Dish
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Stories Total:1
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:1
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# of Separate Water Meters:1
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# of Separate Electric Meters:1
Interior
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Levels:One
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Entry Location:Front Door
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Window Features:Double Pane Windows
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Flooring:Laminate
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Room Type:All Bedrooms Down, Kitchen, Living Room, Main Floor Bedroom, Main Floor Primary Bedroom
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Fireplace:No
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Fireplace:None
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Laundry:Inside
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Laundry:1
Financial & Terms
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Disclosures:Conditional Use Permit
Location
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Directions:Start 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.
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Latitude:35.49487100
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Longitude:-120.68222300
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Property Condition:Turnkey, Updated/Remodeled
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Zoning:CR
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Lot Features:2-5 Units/Acre, Level with Street
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Lot Size Area:143748.0000
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Lot Size Acres:3.3000
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Lot Size SqFt:143748.00
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Lot Size Source:Public Records
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View:1
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View:Hills, Trees/Woods
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Fencing:Chain Link, Wire
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Fence:Yes
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Security Features:Carbon Monoxide Detector(s), Fire and Smoke Detection System, Resident Manager
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Road Frontage:City Street
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Road Surface Type:Paved
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Property Attached:1
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Additional Parcels:No
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Other Structures:Guest House Detached
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:2
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Tax Census Tract:126.02
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Tax Lot:1
The Listing
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Special Listing Conditions:Standard
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Parcel Number:049225017
Heating & Cooling
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Heating:1
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Heating:Forced Air
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Cooling:Yes
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Cooling:Electric
Utilities
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Utilities:Cable Connected, Natural Gas Connected, Propane, Sewer Connected, Water Connected
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Sewer:Public Sewer
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Electric:Electricity - On Property, Standard
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Water Source:Private
Appliances
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Appliances:Gas Oven, Gas Range, Microwave, Refrigerator, Water Heater
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Included:Yes
The Community
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Subdivision:ATNorthwest(20)
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Subdivision:ATNorthwest(20)
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Features:Curbs, Foothills, Hiking, Park, Sidewalks
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
Parking
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Parking:Yes
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Parking:Assigned, Driveway, Concrete, Paved, Private, Uncovered
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Parking Spaces:28.00
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Uncovered Spaces:28.00
Extra Units
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Average 1 Bed Area:440
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Average 2 Bed Area:1112
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
4/11/25
Apr 11, 2025
|
Listed / Active | CRMLS_CA | $3,450,000 |