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California Regional Multiple Listing Service

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

$1,100,000
For Sale

5190 Palma Avenue

Atascadero, CA 93422
2000 sqft | 4 beds | 2 baths | 0.38 acres | #PI25278792
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Listing OfficeInvest SLO
5190 Palma Avenue
18 photos
Type:Purchase
Structure:Townhouse
Zone:Residential

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.

  • Property Details
      • Utility FeaturesCableAvailable, ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected, WaterConnected
      • InteriorCeilingFans, OpenFloorplan, AllBedroomsDown, Attic, BedroomOnMainLevel, MainLevelPrimary
      • Lot DescriptionZeroToOneUnitAcre, RectangularLot, StreetLevel
      • School DistrictAtascadero Unified
      • SubdivisionATNortheast(10)
      • CountySan Luis Obispo
      • ViewNeighborhood
      • Sewer InformationPublicSewer
      • Original List Price$1,100,000
      • MLS #PI25278792
      • MLS #PI25278792
      • Cost1100000.0
      • Property TypePurchase
      • Square Feet2000.0
      • FoundationRaised
      • Utility SourcePublic
      • Property SubtypeDuplex
      • Structure TypeDuplex
      • Acres0.38
      • Year Built1958
      • Bathrooms2.0
      • Parking Spaces2.0
      • Hoa Fees0.0
      • Bedrooms4
      • Full Baths2
      • Stories1

Location

Legal

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Last Updated: Today at 11:44 AM. Source: CRMLS

Provided By
Listing Agent: Chelsea King (#pi02152275)
Listing Office: Invest SLO (#Pi3420)

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