Home Listing: 821 Pacific Ave Morro Bay, CA Sign up for free to get automatic emails with new home listings. Property Details MLS number: 183963 Status 821 Pacific Ave Morro Bay, CA 93442 Original List Price: $1,317,000 List Price: $1,249,000 Sold Price: $0 List Date: 2/20/2012 Contingent Date: n/a Pending Date : 5/9/2012 Sold Date: n/a Bedrooms: 14.00 Square Footage: 5,000 sf Baths: 8.00 (Full:8, 3/4:0, 1/2:0, 1/4:0) Year Built: 0 Stories: 1 Story,2 Story Currently, this listing has one SFR, a four-plex and a tri-plex. At this time, these buildings are sitting on five legal 25'x128'lots. The seller has gotten permission from the City of Morro Bay to split the lots so each building is on its own lot. If you want to buy just one of the buildings, the lot split will have to be put into effect before escrow can close. It has been estimated to cost about $10,000 to complete the lot split. One of the conditions is to remove four feet of the garage to the left of the tri-plex and turn it into a storage building or just tear it down completely. The garage in the SFR has been turned into a bedroom and has to be restored to a garage. The City lot split paperwork is attached up in the document section of this listing. The gross rent of the four-plex is $46,227, the tri-plex--$31,500, and the projected rent for the SFR would be $15,600 for a total of $93,327 gross annual return. This is a 7.47% gross return on the investment of $1,249,000 View: Zoning: Multi-Fam R4 Lot size: 6,534 sf Lot desc: Ext. features: Fenced Yard Exterior: Wood Siding,Stucco Rooms: Int. features: Appliances: Laundry: Coin Op Heating: Wall Furnace Cooling: None Parking: Drive Space Parking spaces: 9     Shown by Michael Byrd of SLO Homestore Listing Agent: Dan Reddell of Bayshore Realty   Photos Street View Map loading... Note: Initial view may not be looking at subject. Click and drag panorama photo with mouse to pan.

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