20 units in San Luis Obispo County, consisting of a 4 bedroom house, 6 apartments, and 13 Mobile Home Spaces on a little less than 5 acres. Property is located between Avila Beach and San Luis Obispo. The property has been approved for replacement of the gas and electric lines scheduled to be replaced in 2nd half of 2023. Cost to the owner will be less than $20,000 due to the CPUC Program. The roads are in bad shape but makes no sense to replace now since they will be digging new lines underground. 3 of the mobile home spaces are subject to rent control and the apartments and house are subject to the State Rent Control. The property is currently on a lease but the price includes the land and will be delivered fee simple. The seller removed three old homes and is currently renting those spaces to trailers. After the replacement of the lines those trailers can be replaced with brand new homes allowing for a substantial profit. In addition an ADU can be put on the property further increasing cash flow. Obviously there is rarely a time when a unit is empty for more than a week.
Property Details
Price:
$3,995,000
MLS #:
SC22250726
Status:
Active
Address:
6180 Ontario Road
Type:
Residential Income
City:
San Luis Obispo
Listed Date:
Dec 4, 2022
State:
CA
ZIP:
93405
Subdivision:
San Luis Obispo(380)
Lot Size:
174,240 sqft / 4.00 acres (approx)
Year Built:
1960
Schools
Interior
Cooling
Gas
Flooring
Laminate, Wood
Fireplace Features
Family Room, Master Bedroom, Electric, Gas, Wood Burning
Exterior
Sewer
Conventional Septic
Community Features
Biking, Foothills, Mountainous, Rural
Foundation Details
Raised, Slab
Garage Spaces
0.00
Lot Features
2-5 Units/ Acre
Parking Features
Assigned
Pool Features
None
Security Features
Resident Manager
Water Source
Public
Financial
Utilities
Cable Available, Electricity Available, Natural Gas Available, Phone Connected, Water Connected
Map
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Courtesy of David Rogers, Broker. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than James Outland include the name of the listing broker. Neither the listing company nor James Outland shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2023. California Regional Multiple Listing Service. All rights reserved. 6180 Ontario Road
San Luis Obispo, CA