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As consideration for the right to search this website operated by U.S. Condo Exchange, LLC for properties for sale or lease, I/We (“User”) agree to the following terms and conditions:
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This listing is no longer active. |
The 14 bedroom, 8.0 bathroom single family for sale located at 821 Pacific Avenue, Morro Bay, CA 93442
went inactive on 05/11/2012. Please use the Find an Agent form to have an agent help you find other Morro Bay 14 bedroom 8.0 bathroom
single family for sale
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Please consider the following similar listings:
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821 Pacific Avenue
14 beds | 8 bath | 5000 Sq. Ft.
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$1,249,000
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Unit Description
Currently, this listing has one SFR, a four-plex and a tri-plex. At this time, these buildings are sitting on five legal 25'x128'lots. The seller has gotten permission from the City of Morro Bay to split the lots so each building is on its own lot. If you want to buy just one of the buildings, the lot split will have to be put into effect before escrow can close. It has been estimated to cost about $10,000 to complete the lot split. One of the conditions is to remove four feet of the garage to the left of the tri-plex and turn it into a storage building or just tear it down completely. The garage in the SFR has been turned into a bedroom and has to be restored to a garage. The City lot split paperwork is attached up in the document section of this listing. The gross rent of the four-plex is $46,227, the tri-plex--$31,500, and the projected rent for the SFR would be $15,600 for a total of $93,327 gross annual return. This is a 7.47% gross return on the investment of $1,249,000 Lot Description: 125x128
Unit Amenities
| Number of Garage Spaces: 9 | | Parking Features: | | Driveway | | Covered Parking | | Parking Type: | | Carport Attached | | Heating: | | Wall Heater | | Water: | | Water District |
| | Floor Material: | | Concrete Slab | | Exterior Construction: | | Siding | | Stucco | | Wood | | Foundation Details: | | Raised Foundation | | Fence: |
| | Privacy Fence | | Roof: | | Composition | | Shingle | | Roll | | Lot Description: | | Street Paved | | Property Condition: | | Under Construction |
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