6,180 sqft

$3,200,000

652 Morro Street, San Luis Obispo CA, 93401

Price per sqft$517.80

Built in1948

Property size6,180 sqft

Property typeMulti-family

Bought with Erica Hinojosa with Berkshire Hathaway Home Servic and Listed by Erica Hinojosa CA DRE# 01987938 with Berkshire Hathaway Home Servic [email protected]

Overview

Sold

Closed

Listed May 2, 2025

Updated Jun 19

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.

Additional information

MLS^® ID: PI25097884

Interior Features

Basement: No

Exterior Features

Lot Size: 0.5 Acres

Other Property Details

Garage: Yes
55+/Senior Community: No

Bought with Erica Hinojosa with Berkshire Hathaway Home Servic and Listed by Erica Hinojosa CA DRE# 01987938 with Berkshire Hathaway Home Servic [email protected]

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 6/19/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 6/19/2026 at 1:38 PM UTC Last Checked: 1:38 PM UTC