Seller's Agent in 2023
Hal Sweasey
Equity Union
(805) 781-3750
29 in this area
548 Total Sales
2077 Sunset Ave Morro Bay, CA 93442
7
Beds
6
Baths
3,571
Sq Ft
10,000
Sq Ft Lot
Highlights
- 0.23 Acre Lot
- Laundry Room
- Level Lot
- Del Mar Elementary School Rated A-
About This Home
As of June 2023Multi-Unit Property consisting of 3 buildings, 5 units total, currently netting over $70K with a cap rate of 4.4. The original structure is a 1951 single level, approx. 640 sq ft Cottage featuring 1 bedroom, 1 bath, updated with all new electrical, plumbing, drywall, LED recessed lighting, bamboo flooring, antique interior doors with new hardware and dual paned windows. The bathroom has been updated with tile floors, new shower enclosure, faucets and antique medicine cabinet and is renting for $1500/month. The 2nd structure built in 1976 consists of 2 units, each 2 stories with 2 bedrooms 1.5 baths, approx 950 sq ft each, featuring a deck, bamboo flooring, tile in the bath, dual paned windows, and each have a single car garage and additional assigned parking space and both rent for $1950/month each. The 3rd structure also built in 1976 consists of an upstairs single level 2 bedroom 1 bath unit approx 750 sqft, featuring a view deck, bamboo floors, dual paned windows, tile in the bath and a garage and rents for $2100/month. An unpermitted Studio was added by the former owner, featuring approx 300 sq ft with a new stove, noise reduction ceiling work, and rents for $1250/month. The middle garage was converted to shared laundry plus storage for the tenants in that structure. Too many upgrades and improvements to mention! Great investment opportunity, or live in one unit and rent out the others for income potential. Ideal location just minutes to the beach, the Embarcadero, great seafood and shopping.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1951
Lot Details
- 10,000 Sq Ft Lot
- 1 Common Wall
- Level Lot
Parking
- 4 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Quadruplex
- Entry on the 1st floor
Interior Spaces
- 3,571 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 7 Bedrooms
- 6 Bathrooms
Laundry
- Laundry Room
- Laundry in Garage
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Assessor Parcel Number 068314021
Community Details
Overview
- 3 Buildings
- 5 Units
- Bayshore Village Subdivision
Amenities
- Laundry Facilities
Building Details
- 5 Leased Units
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 4 Separate Water Meters
- Electric Expense $714
- Fuel Expense $1,125
- Gardener Expense $770
- Insurance Expense $4,222
- Maintenance Expense $6,292
- Other Expense $96
- Supplies Expense $18
- Trash Expense $1,774
- Water Sewer Expense $7,217
- New Taxes Expense $16,000
- Operating Expense $37,432
- Gross Income $107,100
- Net Operating Income $70,203
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 06/27/2023 06/27/23 | Sold | $1,600,000 | 0.0% | $448 / Sq Ft | |
| 05/22/2023 05/22/23 | For Sale | $1,600,000 | +24.0% | $448 / Sq Ft | |
| 09/18/2017 09/18/17 | Sold | $1,290,000 | 0.0% | -- | View Prior Sale |
| 06/23/2017 06/23/17 | Pending | -- | -- | -- | |
| 06/08/2017 06/08/17 | For Sale | $1,290,000 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Hal Sweasey
-
Frankie Ciano
Buyer's Agent in 2023
Frankie Ciano
Ciano Real Estate, Inc.
(805) 748-1026
13 in this area
61 Total Sales
-
Craig Lieberman
Seller's Agent in 2017
Craig Lieberman
Apartment Investment Specialists
(805) 687-5557
25 Total Sales
-
N
Buyer's Agent in 2017
Non Member Agent
Non Member Office
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SC23037389
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