3100 Main St

Morro Bay, CA 93442

$2,800,000
Last Sold Price
2
Beds
9
Baths
7,200 Sq. Ft.
$389 / Sq. Ft.
7,200
Sq. Ft.
$389
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 10/31/24
Closed 10/31/24

Description

Welcome to your dream investment opportunity in Morro Bay, CA! Nestled close to the Pacific Ocean, the vibrant downtown district, and the Embarcadero, this 9-unit apartment building offers an unparalleled combination of coastal charm and income potential. Embrace the California lifestyle with easy access to white sand beaches and a world class Mediterranean climate. Located in a popular tourist destination, and in close proximity to San Luis Obispo and Paso Robles wine country, the region benefits...Welcome to your dream investment opportunity in Morro Bay, CA! Nestled close to the Pacific Ocean, the vibrant downtown district, and the Embarcadero, this 9-unit apartment building offers an unparalleled combination of coastal charm and income potential. Embrace the California lifestyle with easy access to white sand beaches and a world class Mediterranean climate. Located in a popular tourist destination, and in close proximity to San Luis Obispo and Paso Robles wine country, the region benefits from strong economics and employment opportunities. The property is situated next to a small shopping center, and is less than one mile from Spencer’s Fresh Markets grocery store and various local favorite restaurants and shops. Just across Highway 1 to the south is the Cloisters Community Park, Morro Bay High School, and access to wide open dunes and beaches. Each of the 9 apartments includes 2 bedrooms and 1 bathroom, offering spacious and comfortable living spaces. Remodeled kitchens and bathrooms feature shaker cabinets, granite counters, dishwashers, and fully equipped appliances. Newer double pane windows, onsite private garages, and separate in-unit laundry ensure convenient living for all. The garages feature automatic openers, power outlets, and large built-in storage cabinets. Onsite parking is available in front of each garage, as well as under a car port offering additional spaces. Featuring queen palms, birds of paradise, and succulents, the attractive low maintenance landscaping is on drip irrigation and compliments the building's vibrant colors and Spanish style architecture. Three ground floor units feature private backyard patios, perfect for outdoor living, bike storage, and gardening. Upstairs units benefit from ocean views, with the largest apartment featuring a spacious balcony that enjoys views of the ocean and Morro Rock. In addition to the 9 apartments, the property includes a well-equipped owner’s workshop and garage complete with access to utilities. Utilize the workshop as your own retreat, or convert the space into an attached Accessory Dwelling Unit (ADU) to further increase income potential and value. There may also be an opportunity to construct two (2) ADUs, bringing the total unit count to 11 (verify with the City of Morro Bay). Don't miss out on this rare opportunity to own a piece of paradise in one of California's most desirable and valuable destinations. Contact listing office before going onsite
  1. Listed by Erik Berg-Johansen • DRE #02061242 • Brokerage DRE #01904034 • Richardson Sotheby's International Realty • 805-538-1828
  2. Listed by Keith Silva • DRE #01335779 • Brokerage DRE #02180351 • Link Real Estate Group, Inc.

Property Details for 3100 Main Street

Architectural Style
Mediterranean
View
Coastline, Hills
Parking Spaces Total
23
Private Pool
No
Cooling Type
None
Total Units
9.0
Building Type
Attached
Lot Size Source
Assessor
LISTING UPDATED: 11/01/2024 02:36 AM

Property Details for 3100 Main Street

StatusClosed
MLS #SC24127971
Days on Market79
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMixed Use
MLS TypeResidential Income
Year Built1972
Lot Size0.33 AC / 14,400 SF
CountySan Luis Obispo County
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Location

Listing Courtesy of Richardson Sotheby's International Realty, Erik Berg-Johansen, DRE #02061242; Link Real Estate Group, Inc., Keith Silva, DRE #01335779

Sold By King Properties, Kevin King, DRE #01013696

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Building Information for 3100 Main Street

Stories2Residences-Year Built1972Building Size-Lot Size0.33 AC / 14,400 SF

Payment Calculator

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$15,735 per month

30 year fixed, 6.46% Interest

Principal and Interest

$14,099

Property Taxes

$1,636

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 3100 Main Street

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $222,276
  • Net Operating Income: $142,510
  • Financing: Cash
Expense Details
  • Operating Expense: $79,766
  • New Taxes Expense: $18,425
  • Gardener Expense: $2,400
  • Fuel Expense: $403
  • Electric Expense: $1,283
  • Insurance Expense: $3,426
  • Professional Management Expense: $0
  • Trash Expense: $2,570
  • Water Sewer Expense: $27,302
  • Total Expenses: $79,766
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Electric Range
  • Equipment: In Closet, Inside
Exterior Features
  • Window Features: Double Pane Windows
  • Entry Location: 1
  • Other Structures: Second Garage Detached
  • View Description: Coastline, Hills
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: Corner Lot
  • Number Of Units: 9
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Sewer Connected
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Parking: Yes
  • Parking Garage: Assigned, Garage
  • Uncovered Spaces: 10
  • Open Other Spaces Total: 10
  • Parking Garage Spaces: 10
  • Carport Spaces: 3
  • Parking Features: Assigned, Garage
Property / Structure Info
  • Builders Tract Name: North Morro Bay
  • Builders Tract Code: North Morro Bay (820)
Unit Information
Unit 1
  • Unit Type Units Total: 9
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $222,276
  • Unit Type Total Rent: $222,276
  • Unit Type Pro Forma: 292800
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 9
  • Number With Range: 9
  • Number With Refrigerator: 9
  • Number With Carpet: 9
  • Number With Disposal: 9
  • Number With Drapes: 9
  • Number With Patio: 4

Property History for 3100 Main Street

DateEvent & SourcePriceAppreciation
Oct 31, 2024

Sold

CRMLS #SC24127971

$2,800,000—
Oct 31, 2024

Sold

CLAW #SC24127971MR

$2,800,000—
Oct 18, 2024

Sold (Public Record)

Public Record #1543903517

$2,800,000

+4.9% / yr

Sep 9, 2024

Pending

CLAW #SC24127971MR

—
Sep 9, 2024

Pending - Continue to Show

CRMLS #SC24127971

—
Sep 9, 2024

Pending - Continue to Show

CLAW #SC24127971MR

—
Jun 22, 2024

Listed (Active)

CRMLS #SC24127971

$3,390,000—
Apr 26, 2024

Listed (Active)

CLAW #SC24127971MR

$3,390,000—
Feb 4, 2010

Sold

CLAW #SL159795MR

$1,381,250—
Jan 8, 2010

Sold (Public Record)

Public Record #282747224

$1,381,500

-3.2% / yr

Jan 5, 2010

Pending

CLAW #SL159795MR

—
Oct 23, 2009

Listed (Active)

CLAW #SL159795MR

$1,495,000—
May 29, 2008

Expired

SDMLS #SL136567

—
May 28, 2008

Expired

CLAW #SL136567MR

—
Oct 30, 2007

Listed (Active)

SDMLS #SL136567

$2,300,000—
Oct 30, 2007

Listed (Active)

CLAW #SL136567MR

$2,300,000—
Jul 20, 2004

Sold (Public Record)

Public Record #144497485

$1,650,000—
DateEvent & SourcePrice
10/31/2024

Sold

CRMLS #SC24127971

$2,800,000
10/31/2024

Sold

CLAW #SC24127971MR

$2,800,000
10/18/2024

Sold (Public Record)

Public Record #1543903517

$2,800,000

+4.9% / yr

09/09/2024

Pending

CLAW #SC24127971MR

—
09/09/2024

Pending - Continue to Show

CRMLS #SC24127971

—
09/09/2024

Pending - Continue to Show

CLAW #SC24127971MR

—
06/22/2024

Listed (Active)

CRMLS #SC24127971

$3,390,000
04/26/2024

Listed (Active)

CLAW #SC24127971MR

$3,390,000
02/04/2010

Sold

CLAW #SL159795MR

$1,381,250
01/08/2010

Sold (Public Record)

Public Record #282747224

$1,381,500

-3.2% / yr

01/05/2010

Pending

CLAW #SL159795MR

—
10/23/2009

Listed (Active)

CLAW #SL159795MR

$1,495,000
05/29/2008

Expired

SDMLS #SL136567

—
05/28/2008

Expired

CLAW #SL136567MR

—
10/30/2007

Listed (Active)

SDMLS #SL136567

$2,300,000
10/30/2007

Listed (Active)

CLAW #SL136567MR

$2,300,000
07/20/2004

Sold (Public Record)

Public Record #144497485

$1,650,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3100 Main Street

Taxable ValueLand$645,406Additions$1,135,920Total$1,781,326
Tax Record2025$19,634 ($1,636 / month)
Home Facts
Lot Size14,400 SqFtStyleMulti-Family Res (5+ Units)ZoningR4CountySAN LUIS OBISPOAPN065-072-019

Schools near 3100 Main Street

This home is within San Luis Coastal Unified School District.
Rating
School
Type
Grades
Distance
Del Mar Elementary School
Public - K to 5
Los Osos Middle School
Public - 6 to 8
Morro Bay High School
Public - 9 to 12
Pacheco Elementary School
Public - K to 6
Rating
School
Distance
Del Mar Elementary School
PublicK to 5

Los Osos Middle School
Public6 to 8

Morro Bay High School
Public9 to 12

Pacheco Elementary School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Richardson Sotheby's International Realty, Erik Berg-Johansen, DRE #02061242; Link Real Estate Group, Inc., Keith Silva, DRE #01335779

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS and North Santa Barbara County Regional MLS. Information being provided 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 Santa Barbara MLS and North Santa Barbara County Regional MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.