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201 Main Street
Morro Bay, California CA 93442-2714
$3,750,000 Price
4,457 SqFt
0.551 Acres
SC22009743 Listing ID
Waterfront 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.
Schedule Showing
Status Pending
County San Luis Obispo
Year Built 1964
Property Type Residential Income
Residential Income

Primary Features

County: San Luis Obispo
Price Before Reduction: 3900000
Price Reduction Date: 2022-02-23T19:30:38+00:00
Price/SqFt: 841.37
Property Type: Residential Income
Subdivision: Other (OTHR)
Year Built: 1964

Interior

Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: No Common Walls
Cooling: no
Cooling Type: None
Garage Spaces: 1
Heating: no
Heating Type: None
Laundry: yes
Laundry Features: Outside

External

Fence: no
Fencing: None
Lot Features: 0-1 Unit/Acre, Lot 20000-39999 Sqft
Lot Size Area: 23995
Lot Size Source: Assessor
Lot Size Square Feet: 23995
Number Of Buildings: 3
Parking Total: 1
Pool Features: None
Private Pool: no
Property Attached: no
Sewer: Public Sewer
Water Source: Public
Waterfront Features: Bay Front, Includes Dock, Navigable Water

Location

Country: US
Elevation Units: Feet
MLS Area Major: MRBY - Morro Bay
Street Number: -203
Subdivision Name Other: City of MB

Additional

Additional Parcels: no
Community Features: Fishing, Golf, Hiking, Watersports
Days On Market: 93
List Agent State License: 01064170
List Office State License: 01336362
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 2
Number Of Separate Gas Meters: 2
Number Of Separate Water Meters: 1
Number Of Units Leased: 3
Number Of Units Total: 6
Parcel Number: 066251025
Senior Community: no
Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Year Built Source: Estimated

Financial

Cap Rate: 5.7
Electric Expense: 11340
Gross Scheduled Income: 317052
Insurance Expense: 8232
Land Lease: no
Laundry Equipment Own Lease: Own
Maintenance Expense: 12600
Net Operating Income: 222828
Operating Expense: 94224
Price Per Unit: 625000
Rent Control: no
Special Listing Conditions: Standard
Tax Rate: 1.06
Total Expenses: 94224
Trash Expense: 1992
Water Sewer Expense: 3180

Zoning Info


© 2022. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to 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. Last updated Monday, May 16th, 2022.

Based on information from CARETS as of Monday, May 16th, 2022 11:52:59 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. 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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Listing Agent: Dean Marchant, DRE #01064170 from Morro Shores Real Estate 805-440-3996
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Listing Agent: Dean Marchant, DRE #01064170 from Morro Shores Real Estate 805-440-3996
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Listing Agent: Dean Marchant, DRE #01064170 from Morro Shores Real Estate 805-440-3996

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