Price Reduced Listing
Description
Discover this prime multifamily gem in the charming, historic town of San Miguel, California - a growing community in San Luis Obispo County, right off Highway 101 for quick access to Paso Robles (just 10 miles south), world-class wine country, and the vibrant Central Coast. Zoned residential multifamily, this well-maintained property offers two fully remodeled units totaling just under 1,400 sq ft, both updated with modern finishes and ready for new owners or tenants. The main unit is a spacious 2-bedroom, 1-bath with contemporary upgrades and a generous utility room that's perfect for conversion into a third bedroom, home office, or extra storage. The second unit is a cozy 1-bedroom, 1-bath, also beautifully refreshed. The main 2-bedroom unit becomes vacant as of February 15, giving you the perfect opportunity to customize! This duplex has a solid history of strong, reliable rents and previously delivered a gross ROI just over 8% - standout performance compared to typical Central Coast multifamily cap rates around 5-6% in recent market data. With the upcoming vacancy, envision your options: Owner-occupy the larger main unit starting mid-February and rent the second for supplemental income to make your mortgage more affordable. Or re-rent both at current market rates for maximum cash flow in this desirable area. This is your chance to own a turnkey, updated duplex in a community with strong growth potential - ideal for owner-occupants building equity with rental help, multigenerational families, or investors seeking solid income and appreciation. Schedule a private showing today to see the possibilities. Contact me for details, updated financials, or to tour this exceptional property.
Details
| MLS # | NS26009747 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1942 |
| Days On Site | 232 |
| Listing Provided By | Luxton Real Estate | Karlie Montgomery |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,388 |
| Garage | 2 |
| Story(s) | 1 |
| Units | 2 |
| Acreage | 0.12 |
| Property View | None |
Interior
| Cooling | Ductless |
|---|---|
| Heating | Ductless |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | All Bedrooms Down |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Back Yard |
|---|
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Utilities | Electricity Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Rural |
|---|
Area Information
| State | CA |
|---|---|
| County | San Luis Obispo |
| City | San Miguel |
| Zip Code | 93451 |
| Area | SMIG San Miguel |
| Listing VS Median (in 93451) | |
Price: $579,000 low | high Med: $2,495,000 sqft: 1,388 low | high Med: 1,152 $ / sqft: $417 low | high Med: $2,166 On site: 232 low | high Med: 251 | |
Market Activity 93451
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Learn More About This Property
| State | CA |
|---|---|
| County | San Luis Obispo |
| City | San Miguel |
| Zip Code | 93451 |
| Area | SMIG San Miguel |
| Listing VS Median (in 93451) | |
Price: $579,000 low | high Med: $2,495,000 sqft: 1,388 low | high Med: 1,152 $ / sqft: $417 low | high Med: $2,166 On site: 232 low | high Med: 251 | |