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5 Beds 2 Baths PI23090631 MLS
Incredible opportunity to own a multi-unit property in an OPPORTUNITY ZONE located in Oceano. This property is zoned R3 and consists of 4 rentable units: (Front Unit) 2 bedroom/ 1 bathroom, (Back Unit) 1 studio, a non-permitted ADU, and a "Hobby Room". This property also collects rent for RV space in the back. (See photo for breakdown of which unit is where). This property is near downtown shopping, dining, beaches, hiking trails, and just minutes away from the infamous Oceano Dunes! 100% occupied property with the opportunity for stabilized rent growth due to all month-to-month tenancies. A value-add business plan would bring current rents from an average of $5,900 (If all units were rented and paid in full) or $6,500 /month gross. Affordable Oceano submarket convenient access to wineries, employment opportunities, and a short commute to Pismo Beach (5 minutes) and to San Luis Obispo (30 minutes). A decrease in population growth states that Oceano has had an increase in economic opportunity since the most recent census (2023). Supply-constrained submarket with a 2.7% vacancy rate in the Oceano submarket, with a 8.73% asking rent growth in the past 12 months. Investment in these zones through special funds called Opportunity Funds will be allowed to defer or eliminate federal taxes on capital gains earned from the sale of stock, business assets, or property. Increase net operating income by bringing rents up to market from post-renovation of units. Don’t miss out on this investment opportunity in a growing rental market. Lastly this property can qualify to be turned into three separate condos or a multi-family unit that is multiple stories like the neighboring property. Check out supplemental information for more details.

2141 Cienaga Street, Oceano

4 Beds 3 Baths NS23026869 MLS
Welcome to your dream family home! This beautifully renovated 3 bed 2 bath home is perfect for a new family. Step inside and you'll be greeted by an open and spacious living room, complete with brand new flooring that runs throughout the entire home. The entire space has been designed to create an inviting and cozy atmosphere for your family to relax and enjoy. The renovated kitchen is a cook's dream come true, with brand-new stainless steel appliances, sleek new countertops, and brand-new cabinets providing ample storage space. Whether you're cooking for your family or entertaining guests, this kitchen will make it a breeze. The new windows let in plenty of natural light, creating a bright and inviting space for you to enjoy. But the perks don't stop there - this home also boasts a newly renovated ADU, complete with a kitchenette and an en suite full bathroom. This additional living space is perfect for guests or in-laws. The ADU is a rare find and is perfect for a growing family who wants to be close to loved ones while still having their own space. With a redone backyard, there is plenty of space to relax and enjoy the cool coastal air. Location is key, and this home is perfectly situated in a prime location. It's only 10 minutes from the beach, where you can enjoy the sun, sand, and surf whenever you please. Plus, the home is conveniently located right next to an elementary school, you can enjoy the benefits of being close to your children's education. This home is truly a gem, with so many upgrades and thoughtful touches. It's perfect for a new family who wants to enjoy all the benefits of a renovated home and being close to the beach and schools. Don't miss your chance to make this house your forever home.

1611 19th Street, Oceano

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