$3,200,000
$3,750,000
14.7%For more information regarding the value of a property, please contact us for a free consultation.
0.55 Acres Lot
SOLD DATE : 06/24/2022
Key Details
Sold Price $3,200,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SC22008503
Sold Date 06/24/22
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.
Location
State CA
County San Luis Obispo
Area Mrby - Morro Bay
Interior
Heating None
Cooling None
Fireplace No
Laundry Outside
Exterior
Fence None
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Waterfront Description Bayfront,Dock Access,Navigable Water
Building
Lot Description 0-1 Unit/Acre
Water Public
Others
Tax ID 066251025
Acceptable Financing Cash, 1031 Exchange
Listing Terms Cash, 1031 Exchange
Financing Private
Special Listing Condition Standard
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Bought with Hal Sweasey • Keller Williams Realty Central Coast
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "