D
Seller's Agent in 2022
Dean Marchant
Morro Shores Real Estate
201 Main St Morro Bay, CA 93442
Morro Bay Area
7
Beds
2
Baths
4,457
Sq Ft
0.55
Acre Lot
Highlights
- Docks
- Golf Course Community
- Fishing
- Del Mar Elementary School Rated A-
- Home fronts navigable water
- 3-minute walk to Bayshore Bluffs Park
About This Home
As of June 2022Waterfront 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.
Last Agent to Sell the Property
Dean Marchant
Morro Shores Real Estate License #01064170 Listed on: 01/17/2022
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 23,995 Sq Ft Lot
- Home fronts navigable water
- Property Fronts a Bay or Harbor
- No Common Walls
- Density is up to 1 Unit/Acre
Parking
- 1 Car Garage
Home Design
- 4,457 Sq Ft Home
Utilities
- No Heating
- Natural Gas Connected
Additional Features
- 7 Bedrooms
- Laundry Located Outside
- Docks
Listing and Financial Details
- Assessor Parcel Number 066251025
Community Details
Overview
- 3 Buildings
- 6 Units
Amenities
- Laundry Facilities
Recreation
- Golf Course Community
- Fishing
- Water Sports
- Hiking Trails
Building Details
- 3 Leased Units
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $11,340
- Insurance Expense $8,232
- Maintenance Expense $12,600
- Trash Expense $1,992
- Water Sewer Expense $3,180
- Operating Expense $94,224
- Gross Income $317,052
- Net Operating Income $222,828
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 17, 2022
Closed on
Jun 22, 2022
Sold by
Bought by
Seller's Agent
Dean Marchant
Morro Shores Real Estate
Buyer's Agent
Hal Sweasey
Equity Union
List Price
$3,900,000
Sold Price
$3,200,000
Premium/Discount to List
-$700,000
-17.95%
Purchase Details
Closed on
Jan 31, 2014
Sold by
Bought by
Purchase Details
Closed on
Jan 24, 2014
Sold by
Bought by
Purchase Details
Closed on
Sep 10, 2013
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$950,000
Interest Rate
4.46%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 20, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$322,700
Interest Rate
5.54%
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $3,200,000 | New Title Company Name | ||
| -- | Fidelity National Title Co | ||
| -- | Fidelity National Title Co | ||
| $1,920,000 | Fidelity National Title Co | ||
| $649,000 | Chicago Title Company |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $1,800,000 | ||
| Closed | $1,800,000 | ||
| Previous Owner | $650,000 | ||
| Previous Owner | $1,000,000 | ||
| Previous Owner | $950,000 | ||
| Previous Owner | $322,700 | ||
| Previous Owner | $322,700 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/24/2022 06/24/22 | Sold | $3,200,000 | -14.7% | $718 / Sq Ft |
| 06/21/2022 06/21/22 | Price Changed | $3,750,000 | 0.0% | $841 / Sq Ft |
| 04/20/2022 04/20/22 | Pending | -- | -- | -- |
| 02/23/2022 02/23/22 | Price Changed | $3,750,000 | -3.8% | $841 / Sq Ft |
| 01/17/2022 01/17/22 | For Sale | $3,900,000 | -- | $875 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $24,739 | $2,244,454 | $1,804,053 | $440,401 |
| 2024 | $23,879 | $2,200,446 | $1,768,680 | $431,766 |
| 2023 | $23,879 | $2,157,300 | $1,734,000 | $423,300 |
| 2022 | $18,337 | $1,732,730 | $1,617,218 | $115,512 |
| 2021 | $18,045 | $1,698,756 | $1,585,508 | $113,248 |
| 2020 | $17,860 | $1,681,338 | $1,569,251 | $112,087 |
| 2019 | $17,675 | $1,648,372 | $1,538,482 | $109,890 |
| 2018 | $17,328 | $1,616,052 | $1,508,316 | $107,736 |
| 2017 | $16,988 | $1,584,366 | $1,478,742 | $105,624 |
| 2016 | $16,655 | $1,553,301 | $1,449,748 | $103,553 |
| 2015 | $7,751 | $723,045 | $602,541 | $120,504 |
| 2014 | $7,117 | $708,883 | $590,739 | $118,144 |
Source: Public Records
Agents Affiliated with this Home
-
-
Hal Sweasey
Buyer's Agent in 2022
Hal Sweasey
Equity Union
(805) 781-3750
499 Total Sales
-
Wina Gill
Buyer Co-Listing Agent in 2022
Wina Gill
Century 21 Masters
(805) 550-0161
66 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SC22009743
APN: 066-251-025
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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