5401 Capistrano Avenue, Atascadero, California 93422, Atascadero, 93422 - bed, bath
5401 Capistrano Avenue
Atascadero, California 93422
Property Price
SUMMARY
Analysis of 5401 Capistrano Avenue, Atascadero, California 93422 is currently available with a list price of $922,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Atascadero Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1918, this multi-unit property is functional and shows evidence of regular upkeep but remains largely outdated. The kitchens and bathrooms feature older cabinetry, laminate countertops, and basic appliances rather than modern renovations. Interior finishes, including flooring and wall-mounted heating units, show typical wear for a century-old building that has not undergone a comprehensive high-end remodel in recent decades.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Downtown Location
Situated in the heart of downtown Atascadero, this property offers exceptional walkability and convenience, making it highly attractive to tenants and ensuring strong rental demand.
- Versatile Unit Composition
The quadruplex features a diverse mix of a 2-bedroom unit, two 1-bedroom units, and a standalone cottage, providing multiple income streams and appealing to various tenant profiles.
- Expansive Lot Size
With an 18,000 square foot lot, the property includes a large backyard for the standalone home, offering rare outdoor space and potential for future value-add or ADU opportunities.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2750, other record living area = 2249.
- Historic Maintenance Requirements
Built in 1918, the property likely requires significant ongoing maintenance and updates to aging infrastructure, which can increase operating expenses for an investor.
- Significant Price Volatility
A substantial reduction from the original list price of $1.175M to $922,000 suggests previous overvaluation or potential buyer hesitation regarding the property's current condition.
About 5401 Capistrano Avenue
4 units in the heart of downtown Atascadero. One 2 Bedroom on the ground floor. Two 1 bedrooms on the second floor. 1 small standalone 1-bedroom home with large backyard.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1918
- Lot Size
- 18,000 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | 1.0 | 50% |
| Baths | - | 1.0 | 50% |
| Square foot | 2,750 | 2,132.5 | 50% |
| Lot Size | 18,000 | 9,470 | 75% |
| Price | $922.0K | $721.0K | 50% |
| Price per sq ft | $335 | $340 | 25% |
| Built year | 1918 | 1995 | 25% |
| HOA | $0 | $50 | 50% |
| Days on market | 117 | 189 | 25% |
Pricing History
Listed for Sale
Feb 25, 2026
$922,000
Initial Listing
Price Change
Nov 10, 2025
$1,175,000
Initial Listing
Sold
Jan 31, 2013
$394,000
Public Record
Sold
Aug 31, 2005
$675,000
Public Record
Sold
Aug 13, 2002
$300,000
Public Record