tomo logo

$3,490,000

Beds
Unknown
sq ft
4,000

230 Stimson Ave, Pismo Beach, CA 93449

230 Stimson Ave

Pismo Beach, CA 93449

  • 105 days on market
    • Price drop $200,000↓
RARE OPPORTUNITY TO PURCHASE THIS LEGACY PROPERTY. IT IS A 7 UNIT MULTI FAMILY COMPLEX, ONE BLOCK FROM THE BEACH, IN THE DOWNTOWN CORE OF PISMO BEACH. THER ARE 3 STAND ALONE UNITS, A DUPLEX, AND 2 UNITS AT REAR OF THE PROPERTY. THERE ARE 4 GARAGES THAT ARE RENTED OUT AS WELL. RENTS ARE BELOW MARKET, BUT HUGE UPSIDE POTENTIAL, WITH THE CITY ALLOWING UP TO 4 SHORT TERM RENTAL LICENSES FOR THE PROPERTY. CURRENT MARKET RENTS TOTAL $18,000 PER MONTH. THE UNIT MIX IS, 4- 1 BED,1 BATH, 1-2 BED, 2 BATH, 1 -STUDIO AND A 2 BED, 1 BATH HOUSE, WITH A FENCED FRONT YARD.THIS PROPERTY WOULD BE A GREAT BEACH GETAWAY, WITH PLENTY OF ROOM TO STORE THE BEACH TOYS AND STILL GENERATE VACATION RENTAL INCOME.

Details

Property type

Apartment

Est. home value

$2,411,188

Lot size

0.2497 acres

Price per sq ft

$873

Year built

1950

Price History

09/17/2024
CRMLS

CRMLS #PI24153716

Price change
$3,490,000
-5.42%
08/02/2024
CRMLS

CRMLS #PI24153716

Price change
$3,690,000
-2.87%
07/26/2024
CRMLS

CRMLS #PI24153716

Listed
$3,799,000
+72.68%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs, Street Lights

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Conrad K Chapple

Loan start date

April 1995

Original loan amount

$170,000

Est. remaining balance

Not provided

Interest rate

8.84%

Loan type

Seller take-back

Seller

Alice E Martin and Alta C Glenn

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/08/2024 at 3:10 AM

Listing updated: 10/17/2024 at 5:15 PM

Listed by: James Kelsey, Century 21 Hometown Realty, Arroyo Grande Office Phone #: (805) 489-2100

MLS: CRMLS #PI24153716

CRMLS logo

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