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Key Details
Sold Price $1,349,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Grover Beach (330)
MLS Listing ID PI23138131
Sold Date 01/16/24
HOA Y/N No
Year Built 1962
Lot Size 7,300 Sqft
Property Description
881 Manhattan Ave is a 4-unit Apartment Building located just backs from the water. This property is
uniquely positioned well below the sold and active comparable sales, while generating over $9,100/month
in income. A rare opportunity to acquire a building performing at a 5.5% + cap rate upon acquisition.
The 4-units are all comprised of a large 2bed/1ba living areas. Approximately 870 Sq ft units. The property
is zoned R3 - with enough lot area to build an additional ADU. The lot offers 4 individual parking spaces
with ample parking for the current tenant profile.
Location
State CA
County San Luis Obispo
Area Grvc - Grover Beach
Zoning R3
Interior
Interior Features Balcony
Heating Wall Furnace
Cooling None
Flooring Vinyl
Fireplaces Type None
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup, Inside
Exterior
Parking Features Assigned, Concrete, Covered, Detached Carport, Driveway, Paved
Carport Spaces 4
Pool None
Community Features Curbs, Gutter(s), Storm Drain(s), Street Lights, Suburban, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Ocean, Peek-A-Boo
Roof Type Shingle
Total Parking Spaces 8
Private Pool No
Building
Lot Description 16-20 Units/Acre, Landscaped, Level, Rectangular Lot, Value In Land
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 060281024
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA, Owner May Carry
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA, Owner May Carry
Financing Trade
Special Listing Condition Standard
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Bought with Lillie Missbrenner • Alain Pinel.02-szc Agents
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