821 Pacific Avenue

 

This listing is no longer active.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


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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