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    201 203 Main Street

    Morro Bay, CA 93442
    • $4,000,000
    • STATUS: Active
    • ON SITE: 62 days
    • ID#: SC21052512
    UPDATED: 67 min ago
    $4,000,000
    • 0
      BEDS
    • 0.55
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,875
      SQFT
    • $1,032
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    Own water front property on The Central Coast! 100% occupied! Marina with 30 boat spaces, 3 Houses and a Commercial office. This property literally runs itself with zero employees. Easier than a car wash or laundry. Covid has been no issue for this business, All rents have been paid for the past eight years. At four million it's an easy 5 cap and possibilities are endless for extra income if someone wants to make an effort. The water underneath is leased from the City of Morro Bay with 12 years left on current lease and a 20 year option. A great cash business that won't be on the market long.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T21:37:22.697. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/115045514
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    201 203 Main Street Morro Bay, CA 93442

    • Price: $4,000,000
    • Status: Active
    • Updated: 67 min ago
    • ID#: SC21052512
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.55
    Acres
    3,875
    SQFT
    $1,032
    $/SQFT
    1964
    Built
    Neighborhood:
    Other (Othr)
    County:
    San Luis Obispo
    Area:
    MRBY - Morro Bay
    Property Description
    Own water front property on The Central Coast! 100% occupied! Marina with 30 boat spaces, 3 Houses and a Commercial office. This property literally runs itself with zero employees. Easier than a car wash or laundry. Covid has been no issue for this business, All rents have been paid for the past eight years. At four million it's an easy 5 cap and possibilities are endless for extra income if someone wants to make an effort. The water underneath is leased from the City of Morro Bay with 12 years left on current lease and a 20 year option. A great cash business that won't be on the market long.
    Exterior Features

    Lot Features 0-1 Unit/AcreSloped Down Number Of Separate Electric Meters 0 Parking Total 1 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Appliances DryerWasher Common Walls No Common Walls

    Property Features

    Additional Parcels YN Yes Common Interest None Community Features Urban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 312000 Gross Scheduled Income 312000 Insurance Expense 0 Land Lease YN No Laundry Features Common AreaLaundry RoomOutside Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 198000 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 114000 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public

    Listing provided courtesy of Dean Marchant of Morro Shores Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T21:37:22.697. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
     
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