201 -203 Main Street, Morro Bay, CA 93442

$3,750,000
List Price
$3,750,000
Price Change
▼ $150,000 1646018108
Status
PENDING
MLS#
SC22009743
Year Built
1964
Lot Size
23,995
Acres
0.5508
Lot Location
Item01UnitAcre
Days on Market
92
Property Type
Multifamily
Neighborhood
Other (Othr)

Property Description

Waterfront income property on the Central Coast of California with 3 houses! Marina portion includes 28 boat spaces, 2 restrooms and a pier/dock. Water lease with the City of Morro Bay has 12 years left on the current lease with an option for an additional 20 years. Huge demand for boat slips in the area and rental housing, zero vacancy for the past eight years. This property is owner managed and not overly demanding. Rare opportunity to have a water lease and own the upland real estate. Offered at a 5.7% cap rate.

Additional Information

Pool Description
None
Heat
None
Cooling Description
None
Garage Spaces Total
1
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
6
Gross Scheduled Income
$317,052
Operating Expense
94224

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Dean Marchant from Morro Shores Real Estate

Based on information from California Regional Multiple Listing Service, Inc. as of . 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.