18
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Listed by Chelsea King • Invest SLO
$1,100,000
Est. payment /mo
New
5190 & 5200 Palma AVE Atascadero, CA 93422
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPI25278806
Style Traditional
Year Built 1958
Property Sub-Type Duplex
Source California Regional MLS
Property Description
Located at 5190 & 5200 Palma Avenue, "The Palms" presents a rare and highly refined high-density multifamily development-with the opportunity to collect fair market value rents for two units while building two additional units. On a 0.38-acre parcel in the heart of Atascadero's Downtown District, the property features two attached residential units with two attached garages. It is ideally situated just steps from the historic Sunken Gardens and the Atascadero Administration Building, placing it at the center of the city's pedestrian-friendly civic core. Zoned RMF-10, with two units and the opportunity to have a total of 4 units, the site offers meaningful future density upside on an efficiently sized, centrally located parcel-an increasingly scarce combination in downtown Atascadero. The property currently features a duplex and includes approval for two additional units, allowing for immediate expansion, with active building permits for two additional residences, along with flexible design standards allowing for expanded bedroom and bathroom configurations. Location remains the property's defining strength, offering immediate walkability to Atascadero's revitalized downtown-now featuring a new pedestrian mall, mixed-use development, local dining, breweries, boutique shoppi
Location
State CA
County San Luis Obispo
Area Atsc - Atascadero
Rooms
Kitchen Hood Over Range, Other, Oven - Gas
Interior
Heating Gas, Wall Furnace
Cooling Window / Wall Unit
Laundry In Garage, 38, Washer/Dryer - Owned
Exterior
Parking Features Garage, Common Parking Area, Other
Garage Spaces 2.0
Pool 31, None
View Local/Neighborhood
Roof Type 2,Shingle
Building
Story One Story
Foundation Raised
Water Hot Water, District - Public
Architectural Style Traditional
Others
Tax ID 029302038
Special Listing Condition Not Applicable
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