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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 Updated | 4/11/2025 | Tract | ATNorthwest(20) |
|---|---|---|---|
| Year Built | 2000 | Community | Atascadero |
| County | San Luis Obispo |
Additional Details
| AIR | Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Oven, Gas Range, Microwave, Refrigerator, Water Heater |
| AREA | Atascadero |
| CONSTRUCTION | Stucco |
| GARAGE | Assigned, Concrete, Driveway, Paved, Private, Uncovered |
| HEAT | Forced Air |
| HOA DUES | 0 |
| INTERIOR | All Bedrooms Down, Bedroom on Main Level, Main Level Primary |
| LOT | 3.3 acre(s) |
| LOT DESCRIPTION | 2-5 Units/Acre, Street Level |
| PARKING | Assigned,Concrete,Driveway,Paved,Private,Uncovered |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Spanish |
| SUBDIVISION | ATNorthwest(20) |
| UTILITIES | Cable Connected,Natural Gas Connected,Propane,Sewer Connected,Water Connected, Electric: Electricity - On Property,Standard |
| VIEW | Yes |
| VIEW DESCRIPTION | Hills,Trees/Woods |
| WATER | Private |
| ZONING | CR |
Location
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Based on information from California Regional Multiple Listing Service, Inc. as of 4/15/25 2:36 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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