652 Morro Street

San Luis Obispo, CA 93401

  • 0 Bed(s)
  • 0 Bath(s)
  • 6,180 Sqft
  • 21750
    Sqft(Lot)
$3,200,000

Description

Very rare investment opportunity in downtown san luis obispo. historically operated as a boutique motel in a prime location just a few short blocks away from restaurants, shopping, theaters, city services and all downtown has to offer. this property consists of a total of thirteen standalone units including a 2 bedroom home with two car garage and twelve separate cottages. the individual furnished cottages consist of eight 1 bedroom units and four studios. this unique corner lot of almost 1/2 acre offers residents very close proximity to all of the downtown amenities and cal poly along with the onsite conveniences of a separate laundry facility and designated parking. the current below market rents present a huge short term upside opportunity for any experienced investor. additionally, the long term redevelopment potential of this property would be highly desirable to any opportunistic investor or developer. the new owners can choose to operate this asset as either a motel, airbnb, long term rental or combination thereof, laying the foundation for the ultimate operational flexibility in maximizing cash flow while they plan for the future redevelopment. don't let this once in a lifetime investment opportunity slip through your fingers as these types of properties do not come available often.

  • Property Type

    Residential Income

  • County

    San Luis Obispo

  • Style

    Residential Income

  • AD ID

    49602599

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

  • Building Information

    • Year Built: 1948
    • Building Area Total: 6,180

    Pool Features

    • None

    Laundry Features

    • Common Area,In Garage

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.4993
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 21750

  • Listing Price Information

    • Original List Price: 3,200,000
    • Listing Contract Date: 2025-05-02

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 002311001

  • Garage and Parking

    • Garage Description: Assigned,Garage,On Site

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Pending
    • Source Neighborhood: SLO - San Luis Obispo
    • Postal Code Plus 4: 2707
    • Directions: Located on the Corner of Walnut St and Morro St
    • Source Property Type: Residential Income
    • Area: SLO - San Luis Obispo
    • Property SubType: Mixed Use

    Building and Construction

    • Property Age: 77
    • Common Walls: 1 Common Wall
    • Structure Type: Mixed Use
    • Year Built Source: See Remarks
    • Entry Level: 1
    • Entry Location: Parking Lot
    • Property Attached: Yes
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BuyOwner last updated this listing 06/06/2025 @ 12:30

  • MLS: PI25097884
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is recently sold, it has 6,180 sqft, 21,750 sized lot, and 2 parking. are nearby neighborhoods.