652 Morro Street
San Luis Obispo, CA 93401
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1948 build
- – on site
Very rare investment opportunity in downtown San Luis obispo. Historically operated as a boutique motel in a prime location just a few short blocks away from restaurants, shopping, theaters, city services and all downtown has to offer. This property consists of a total of thirteen standalone units including a 2 bedroom home with two car garage and twelve separate cottages. The individual furnished cottages consist of eight 1 bedroom units and four studios. This unique corner lot of almost 1/2 acre offers residents very close proximity to all of the downtown amenities and Cal Poly along with the onsite conveniences of a separate laundry facility and designated parking. The current below market rents present a huge short term upside opportunity for any experienced investor. Additionally, the long term redevelopment potential of this property would be highly desirable to any opportunistic investor or developer. The new owners can choose to operate this asset as either a motel, Airbnb, long term rental or combination thereof, laying the foundation for the ultimate operational flexibility in maximizing cash flow while they plan for the future redevelopment. Don't let this once in a lifetime investment opportunity slip through your fingers as these types of properties do not come available often.
Last checked:
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Last updated May 4, 2025
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MLS# PI25097884 —
The Building
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Year Built:1948
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Year Built Source:See Remarks
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New Construction:No
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Building Area Total:6180.00
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Building Area Units:Square Feet
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Total Number Of Units:13
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# of Buildings:13
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Stories Total:1
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Entry Level:1
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Common Walls:1 Common Wall
Interior
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Entry Location:Parking Lot
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Laundry:Community, In Garage
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Laundry:1
Location
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Directions:Located on the Corner of Walnut St and Morro St
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Latitude:35.28445700
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Longitude:-120.66465700
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Lot Features:Up Slope from Street
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Lot Size Area:21750.0000
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Lot Size Acres:0.4993
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Lot Size SqFt:21750.00
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Lot Size Source:Assessor
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Exclusions:Tenant/Owner Personal Property
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:002311001
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Subdivision:San Luis Obispo(380)
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Subdivision:San Luis Obispo(380)
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Features:Sidewalks, Storm Drains, Street Lights
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Inclusions:Furnished Rooms/Appliances
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking:Yes
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Parking:Assigned, Garage, On Site
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Parking Spaces:17.00
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Garage Spaces:2.00
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Uncovered Spaces:15.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
5/2/25
May 2, 2025
|
Listed / Active | CRMLS_CA | $3,200,000 |
