Greg Malik Real Estate
3229 Broad
San Luis Obispo, CA 93401

$3,240,000

Description

The property can be purchased with OWNER FINANCING! Owner will provide up to 50% of financing to qualified Buyer. The property has unique architectural lines and function. The outstanding location offers tenants an easy access to multiple ethnic restaurants, a micro brewery and a range of services and retail outlets. This mixed-use development might be ideal for an owner user. Enjoying the approximately $100,000.00 in income from the 8 spacious apartments annually. These units are governed by a Deed restricting rents based on a City of San Luis Obispo mandate. The commercial/retail space can be demised into 3 suites or the new owner could do a condo map and add value. Please confirm with City Planning Dept. for conditions or restrictions. This location would be ideal for for engineers,architects,legal, real estate or other professional service companies. New updated information. The Commercial building can be entitled into residential uses by Buyer. The new entitlements may include up to 8 MARKET RATE apartments or a combination of a 3 room Boutique Hotel and 5 apartments. Great income producer to new Buyer. Buyer to confirm new entitlements when available from Ten Over Studios and SLO Planning Dept. To be submitted in June to Planning Dept.

Details

MLS#SC18059093
StyleIQWeb_Mixed Use
Sub-TypeResale
StatusActive
Days On Site157

Features

SQ Feet10,000
Story(s)0

Market Activity 93401

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Area Information

StateCA
CountySan Luis Obispo
CitySan Luis Obispo
Zip Code93401
AreaSLO - San Luis Obispo
Listing VS Median (in 93401)
Price:
$3,240,000
low | high
Med:
$462,000
100% of Average
SqFt:
10,000
low | high
Med:
1,038
100% of Average
$ / SqFt:
$324
low | high
Med:
$445
12.627560122743% of Average
On Site:
157
low | high
Med:
38
100% of Average
Listing Updated: 08/17/2018
MLS Number: SC18059093
Listing Provided By:
Craig Losee  of  Central Commercial Group
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