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Key Details
Sold Price $3,200,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision ,City Of Mb
MLS Listing ID SC22009743
Sold Date 06/24/22
HOA Y/N No
Year Built 1964
Lot Size 0.551 Acres
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.
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Rooms
Ensuite Laundry Outside
Interior
Laundry Location Outside
Heating None
Cooling None
Fireplace No
Laundry Outside
Exterior
Garage Spaces 1.0
Garage Description 1.0
Fence None
Pool None
Community Features Fishing, Golf, Hiking, Water Sports
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Waterfront Description Bayfront,Dock Access,Navigable Water
Total Parking Spaces 1
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 066251025
Acceptable Financing Cash, 1031 Exchange
Listing Terms Cash, 1031 Exchange
Financing Private
Special Listing Condition Standard
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Bought with Hal Sweasey • Keller Williams Realty Central Coast
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