Isabel Gerardo
PB & Associates
(805) 219-7275
106 Total Sales
1 in Morro Bay
$1,300,000 Price
2077 Sunset Ave Morro Bay, CA 93442
Morro Bay Area
7
Beds
6
Baths
3,571
Sq Ft
10,000
Sq Ft Lot
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.
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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
- Laundry in Garage
Bedrooms and Bathrooms
- 7 Bedrooms
- 6 Bathrooms
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
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
May 22, 2023
Closed on
Jun 15, 2023
Sold by
Bought by
Seller's Agent
Hal Sweasey
Equity Union
Buyer's Agent
Frankie Ciano
Ciano Real Estate, Inc.
List Price
$1,600,000
Sold Price
$1,600,000
Views
52
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,280,000
Outstanding Balance
$1,232,893
Interest Rate
6.35%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jun 30, 2017
Sold by
Bought by
Purchase Details
Closed on
Nov 25, 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
$150,000
Interest Rate
4.13%
Mortgage Type
Commercial
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Morro Bay, CA
-
Isabel Gerardo
-
Bernadette Corona
Bernadette Corona
RE/MAX Parkside Real Estate
(805) 464-3397
70 Total Sales
6 in Morro Bay
$227K - $950K Price Range
-
Leon Van Beurden
Leon Van Beurden
Bay Osos Brokers
(805) 505-7667
81 Total Sales
11 in Morro Bay
$480K - $1.2M Price Range
-
Michael Puhek
Michael Puhek
Re/Max Success
(805) 329-6189
107 Total Sales
4 in Morro Bay
$260K - $1.4M Price Range
-
Courtney Huckabay
Courtney Huckabay
Comet Realty
(805) 519-8092
61 Total Sales
5 in Morro Bay
$339K - $1.2M Price Range
-
Kristina Kidwell
Kristina Kidwell
San Luis Bay Realty
(833) 659-7908
28 Total Sales
3 in Morro Bay
$562K - $720K Price Range
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 |
|---|---|---|---|
| $1,600,000 | Fidelity National Title | ||
| $1,290,000 | Fidelity National Title Co | ||
| $720,000 | First American 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 | $1,280,000 | ||
| Previous Owner | $150,000 |
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 | 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
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 |
|---|---|---|---|---|
| 2026 | $18,348 | $1,697,932 | $955,087 | $742,845 |
| 2025 | $18,036 | $1,664,640 | $936,360 | $728,280 |
| 2024 | $15,616 | $1,632,000 | $918,000 | $714,000 |
| 2023 | $15,616 | $1,410,802 | $710,869 | $699,933 |
| 2022 | $14,637 | $1,383,140 | $696,931 | $686,209 |
| 2021 | $14,404 | $1,356,020 | $683,266 | $672,754 |
| 2020 | $14,257 | $1,342,116 | $676,260 | $665,856 |
| 2019 | $14,109 | $1,315,800 | $663,000 | $652,800 |
| 2018 | $13,832 | $1,290,000 | $650,000 | $640,000 |
| 2017 | $8,079 | $760,494 | $211,248 | $549,246 |
| 2016 | $7,919 | $745,583 | $207,106 | $538,477 |
| 2015 | $7,873 | $734,385 | $203,996 | $530,389 |
| 2014 | $2,028 | $202,013 | $40,381 | $161,632 |
Source: Public Records
Agents Affiliated with this Home
-
Hal Sweasey
Seller's Agent in 2023
Hal Sweasey
Equity Union
(805) 781-3750
497 Total Sales
-
Frankie Ciano
Buyer's Agent in 2023
Frankie Ciano
Ciano Real Estate, Inc.
(805) 748-1026
61 Total Sales
-
Craig Lieberman
Seller's Agent in 2017
Craig Lieberman
Apartment Investment Specialists
(805) 687-5557
26 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
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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