201 Main Street, Morro Bay, CA 93442 – SC22009743

$3,200,000

$3,750,000

14.7%

Est.Price: ?

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Est. payment -/mo

7 Beds

0.55 Acres Lot

SOLD DATE : 06/24/2022

Key Details

Sold Price $3,200,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SC22009743

Sold Date 06/24/22

Bedrooms 7

HOA Y/N No

Lot Size 0.551 Acres

Property Description

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.
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.