$1,306,375
$1,425,000
8.3%For more information regarding the value of a property, please contact us for a free consultation.
365 Surf ST Morro Bay, CA 93442
7,501 Sqft Lot
Key Details
Sold Price $1,306,375
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NS23171047
Sold Date 01/25/24
HOA Y/N No
Year Built 1972
Lot Size 7,501 Sqft
Property Description
Welcome to 365 Surf Street, a fantastic investment property located in the highly sought-after community of Morro Bay! This multi-unit property, built in 1972, offers an excellent opportunity for both investors and house hackers. Situated on a spacious 7,500 square foot lot, the property comprises a single building with a total of four units, generating an annual income of $40,000 with the potential for so much more. Each unit is a comfortable 612 square feet and includes 1 bedroom, 1 full bathroom, a living room, and a well-equipped kitchen. The property features two units on the upper level and two units on the lower level. All units have the added bonus of a pleasant deck and access to a shared yard and barbecue area. The upper units provide breathtaking views of the ocean, Morro Rock, and the iconic 3 Stacks. Additionally, the two lower garages offer four parking spaces, covering approximately 756 square feet of space. The property has seen around $118,000 in upgrades and improvements, including laminate flooring, tile flooring in the bathrooms and kitchen, stylish faux blinds, new lighting fixtures, fresh paint, dual pane windows for enhanced energy efficiency, upgraded landscaping, and new garage doors. Currently, three of the units are leased at $1,285 per month each, while the remaining unit commands a monthly rent of $1,350. For investors, this property represents a lucrative investment opportunity. House hackers have the flexibility to live in one unit while generating rental income from the others. This rare opportunity places you in close proximity to the beach, Embarcadero, and an array of excellent seafood dining and shopping options. Don't miss your chance to invest in this income-generating property in the charming coastal community of Morro Bay! Take your tour here: https://vid.us/9wfrki or call today!
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Zoning 30
Interior
Interior Features Walk-In Closet(s)
Heating Forced Air
Cooling None
Flooring Vinyl
Fireplaces Type None
Fireplace No
Appliance Disposal, Gas Range, Refrigerator
Laundry None
Exterior
Garage Carport, Paved
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Street Lights
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
View Y/N Yes
View Ocean, Peek-A-Boo, Water
Total Parking Spaces 4
Private Pool No
Building
Lot Description Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 066312009
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Energy Description 300.0
Acceptable Financing Cash, Cash to New Loan, Conventional, FHA, VA Loan
Listing Terms Cash, Cash to New Loan, Conventional, FHA, VA Loan
Financing Cash to Loan
Special Listing Condition Standard
Lease Land No
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Bought with Jennifer Dawson • Platinum Properties