Stimson Apartments

Investment Overview

7 UNIT MULTI FAMILY COMPLEX, IN THE DOWNTOWN CORE OF PISMO BEACH,JUST ONE BLOCK FROM THE BEACH. 3 STAND ALONE BUNGALOW 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 APPROX. $18,000 PER MONTH

Investment Highlights

• 3,998 SF building
• 7 units
• Renovated in 2024
• Zoned R4
• 80% occupancy
• Prime Multi-Family area location
• Vacation rental licenses available