218 - 240 Pacific
Morro Bay, CA 93442
10 BEDS | 9.00 BATHS | 4,560 SF
Type: Commercial/Residential
Lot Size: 18750 sq.ft.
Year Built: 1946
Stories: 1
MLS# SC19083813
Neighborhood: MRBY - Morro Bay
Active | Offered at $3,350,000

Troy Palmquist

DRE# 01772139

Property Description

Pacific Street Cottages, a 5 Star eight-unit residential complex overlooking picturesque Morro Bay harbor, Embarcadero, and Rock. An incredible sited parcel with 4 APNs conveniently close to world-class dining, Marina Square, shopping, beaches, and downtown. Only a half block to the Embarcadero and harbor. This eight-residence group offers a true coastal hideaway of unsurpassed natural beauty. Individually licensed as Vacation Rentals with increasing monthly year over year income. Immediate receivable 2019 cash flow with future booked reservations. The eight residences comprised of a triplex, duplex, two single family residences and a one-bedroom unit. All refreshed from floor to ceiling, carefully furnished, and being enjoyed daily by vacationers from around the globe. Each residence offers comfortable living, bedroom space and full kitchen. Patios, decks, and large private courtyard encourage an outdoor living environment. Three on site laundry facilities and 10 onsite parking spaces, sufficient for staff and guests needs. Zoned CVS – Community Visitor Serving, the property is primed positioned to continue as a successful Vacation Rental or the location invites redevelopment into a modern Bayside resort. A Premier Partner on VRBO and Superhost on Airbnb. Booking.com has recently been added to book guests. This offering has a great track record and is a growing turn-key business opportunity for those looking to invest in a legacy property with expanding future potential.

Features & Amenities

Interior Features: Ceiling Fan(s),Formica Counters,Furnished,Granite Counters,High Ceilings,Living Room Deck Attached,Open Floorplan,Pantry,Tile Counters,Track Lighting | Garage Spaces: 3 | Parking Spaces: 3 | Appliances: Barbecue,Dishwasher,Electric Range,Gas Range,Microwave,Refrigerator,Water Heater
Listing Provided By
Frankie Ciano, Ciano Real Estate Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of November 18, 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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