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Map
$6,070,059*
●
Commercial -
Off Market
894 Monterey Street
San Luis Obispo, CA 93401
Studio
0 Bath
$3,735,000 - $4,565,000
Reference Base Price*
46.27%
Since Jan 1, 2020
National-US
Primary Model
About This Property
Price Reduction! Owner will carry 1st up to $2.4m for 5-years! Very
rare opportunity to own a large retail/office building in the heart
of charming downtown San Luis Obispo with onsite parking.
Property addresses are 888, 890, & 894 Monterey.
Opportunity for an investor to create value by enhancing the
units/property and stabilizing the property rents to market, and
also development potential building out over the parking lot and
possibly going up and adding residential units. Building out
over the parking lot would increase the property size over 50% and
deemed likely to be approved with three parking structures within a
1/2 mile of the building. The property is on the busy corner
of Monterey St and Morro St, one block from the iconic Mission San
Luis Obispo de Tolosa, next to the new Downtown Center and the
brand new Hotel SLO. Monterey Street is one of the main
thoroughfares in the city and is a heavy foot-traffic area in the
downtown core. This is an opportunity to buy a generational
investment that is surely to provide handsome appreciation for many
decades to come. The property currently has an income of
$163,380 with an unrented owners space. Per property
appraisal, at market rents gross income should be approx $270,000.
With substantial upside in rents and future development
potential this is a fantastic investment opportunity that does not
come around often. See attached brochure for additional
photos and current and projected financial information
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
Commercial
Property Taxes
-
HOA Dues
-
Year Built
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Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Dec 21, 2019 | No longer available | - | |
No longer available | |||
Aug 20, 2019 | Relisted | $4,150,000 | |
Relisted | |||
Aug 18, 2019 | No longer available | - | |
No longer available | |||
May 3, 2019 | Price Decreased |
$4,150,000
↓ $145K
(3.4%)
|
|
Price Decreased | |||
Apr 24, 2019 | Price Decreased |
$4,295,000
↓ $130K
(2.9%)
|
|
Price Decreased |
Show More
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
11/04/2021
|
|
Loft
|
-
|
9992 ft²
|
$4,499,000
Loft
-
9992 ft²
|
-
-
|
-
|
Kevin King
King Properties
|
12/31/2018
|
|
Studio
|
-
|
-
|
$5,250,000
Studio
-
|
-
-
|
-
|
-
|