Price Reduction! Owner will carry 1st up to $2.4m for 5-years! Very rare opportunity to own a large retail/office building in the heart of charming downtown San Luis Obispo with onsite parking. Property addresses are 888, 890, & 894 Monterey. Opportunity for an investor to create value by enhancing the units/property and stabilizing the property rents to market, and also development potential building out over the parking lot and possibly going up and adding residential units. Building out over the parking lot would increase the property size over 50% and deemed likely to be approved with three parking structures within a 1/2 mile of the building. The property is on the busy corner of Monterey St and Morro St, one block from the iconic Mission San Luis Obispo de Tolosa, next to the new Downtown Center and the brand new Hotel SLO. Monterey Street is one of the main thoroughfares in the city and is a heavy foot-traffic area in the downtown core. This is an opportunity to buy a generational investment that is surely to provide handsome appreciation for many decades to come. The property currently has an income of $163,380 with an unrented owners space. Per property appraisal, at market rents gross income should be approx $270,000. With substantial upside in rents and future development potential this is a fantastic investment opportunity that does not come around often. See attached brochure for additional photos and current and projected financial information
REALTOR®; Broker; Founder/Owner of
San Luis Obispo Realty
Email Me - firstname.lastname@example.org
cell - 805-441-7777
fax - 805-544-1031
and our Morro Bay Affiliate & second location
Dont Miss a New Listing Again!
Already registered? Login
FREE AUTOMATED EMAIL UPDATES
Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free!
*Contact Information NOT Shared*
Home | Office Listings | Open Houses | Search for Homes | Advanced Search | Map Search | Newly Listed in the San Luis Obispo Area | San Luis Obispo | Arroyo Grande | Atascadero | Morro Bay | Nipomo | Paso Robles | Avila Beach | Commercial Search | Foreclosures, REO, Bank owned, Short Sales | San Luis Obispo Lots and Land | Commercial Real Estate - City | Trilogy, Monarch Dunes Golf Resort Homes in Nipomo | Cypress Ridge Golf Course Homes - Arroyo Grande | Foreclosure Search | Avila Beach Mobile Homes | San Luis Obispo Country Club Estates - Homes For Sale | Pelican Point Avila Beach | The Villas - Avila Beach | Bassi Ranch - Avila Beach Homes for sale | Mortgage Rates | Buyer/Seller Info | Our Blog | Real Estate News!!! | Local Resources | Weather | Relocation | San Luis Obispo, the Happiest Place to Live! | Real Estate Terms | School Information | Contact Us | San Luis Obispo Housing, Homes for sale in San Luis Obispo | Real Estate in San Luis Obispo, CA, agent, broker | real estate in San Luis Obispo, Country Club Estates, Luxury | Pismo Beach and San Luis Obispo, CA homes for sale | Office Listings -... | King Fisher - Avila Beach | Pismo Beach Homes only | Pismo Beach Mobile Homes | Pismo Beach - Condos | Pismo Beach - Ocean View Homes | Indian Hill Mobil... | A Bit More About Us | | Commercial County Search | Our Agents | Gated Communities | SLO County Vineyards and Wineries | SLO Community Sea... | Ocean View Homes | San Luis Obispo Golf Courses and Homes for sale | Community Searches