Atascadero, CA 93422,5190 & 5200 Palma AVE
Atascadero, CA 93422,5190 & 5200 Palma AVE
Atascadero, CA 93422,5190 & 5200 Palma AVE
Atascadero, CA 93422,5190 & 5200 Palma AVE
Atascadero, CA 93422,5190 & 5200 Palma AVE
Atascadero, CA 93422,5190 & 5200 Palma AVE
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$ 1,100,000
Est. payment | /mo

4 Beds

2 Baths

2,000 SqFt


Save
$ 1,100,000
Est. payment | /mo
Save

4 Beds

2 Baths

2,000 SqFt

Open House

Wed Jan 14, 11:00am - 1:00pm

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,000 sqft

Price per Sqft $550

Subdivision Atnortheast(10)

MLS Listing ID PI25278792

Bedrooms 4

Full Baths 2

HOA Y/N No

Year Built 1958

Lot Size 0.380 Acres

Property Sub-Type Duplex

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 shopping, and year-round community events—while also providing convenient access to Highway 101. Strategically positioned between the Paso Robles wine region to the north and the academic and cultural center of San Luis Obispo to the south, “The Palms” occupies a central position within a region experiencing sustained economic growth, making it an ideal opportunity for investors seeking both current income and long-term development potential.

Location

State CA

County San Luis Obispo

Area Atsc - Atascadero

Zoning RMF-10

Rooms

Main Level Bedrooms 4

Interior

Interior Features Ceiling Fan(s), Open Floorplan, All Bedrooms Down, Attic, Bedroom on Main Level, Main Level Primary

Heating Natural Gas, Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Tile, Vinyl

Fireplaces Type None

Fireplace No

Appliance Gas Cooktop, Gas Oven, Gas Water Heater, Range Hood, Water Heater

Laundry Electric Dryer Hookup, Gas Dryer Hookup, In Garage

Exterior

Parking Features Concrete, Door-Single, Driveway, Garage Faces Front, Garage, On Site

Garage Spaces 2.0

Garage Description 2.0

Fence Wood, Wire

Pool None

Community Features Gutter(s), Suburban, Sidewalks

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N Yes

View Neighborhood

Roof Type Asphalt,Shingle

Accessibility Parking

Porch Front Porch

Total Parking Spaces 2

Private Pool No

Building

Lot Description 0-1 Unit/Acre, Rectangular Lot, Street Level

Dwelling Type Duplex

Story 1

Entry Level One

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories One

New Construction No

Schools

School District Atascadero Unified

Others

Senior Community No

Tax ID 029302038

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, VA Loan

Listing Terms Cash, Conventional, 1031 Exchange, FHA, VA Loan

Special Listing Condition Standard

CRMLS – RECore
Listed by Chelsea King Invest SLO 805-540-9333
Julie Mulcahy

+1(702) 278-3559

allyourdreamhomes@gmail.com

39899 Balentine Dr. Suite 200, Newark, CA, 94560, United States

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