
Atascadero, California 93422
This property presents a High-Potential Investment Opportunity with a List Price of $600,000—positioned well below the $606,561 Fair Market Value by 1%. This asset offers $6,561 in Instant Equity. With a Condition Rating of 5, the home requires significant rehabilitation, including a new roof and electrical updates. However, the MF10 Multi-Family Zoning on a large lot provides exceptional development upside. This is a strategic acquisition ideal for Buy-and-Hold Investors or Contractors seeking to leverage land value and rental potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 7400 Sombrilla Subject 3 bd · 2 ba · 1,111 sqft · $544 | $600,000* List Price | 3 | 2 | 1,111 | $544 | - |
A 7325 Navajoa Pending 3 bd · 2 ba · 1,228 sqft · $550 · 0.6 mi | $675,000 List Price | 3 | 2 | 1,228 | $550 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1959, this property is a classic fixer-upper requiring significant rehabilitation. The listing explicitly notes the need for a new roof and an updated electrical panel, indicating major system defects. The kitchen and bathrooms are dated (30+ years), and the home is offered as-is for a value-add investor.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11640, living area = 1111.
The MF10 multi-family zoning on a generous quarter-acre lot allows for up to ten units per acre, offering significant upside for adding rental units or multi-generational housing.
The home features original oak hardwood floors throughout that are solid and ready to be refinished, preserving classic character while reducing flooring replacement costs.
The property requires a new roof and an updated electrical panel, representing immediate and significant capital expenditures for any buyer.
Sold in strictly as-is condition, the home is not move-in ready and will require extensive interior and exterior renovations to meet modern living standards.
Space, Shade, and Real Potential 3 BD | 1.5 BA Tucked beneath a canopy of mature trees, this 1959 single-level home sits on a generous quarter-acre-plus lot in the heart of Atascadero. It's a straightforward fixer-upper. It needs work inside and out; but for the right buyer, that's precisely the opportunity. It's priced and offered as-is. A perfect opportunity for a buyer or investor who wants to put in the work rather than pay a premium for someone else's renovation. Inside, original oak hardwood floors run throughout, solid and ready to be refinished. The layout is simple, functional 1950s construction with good underlying bones. Outside, the real asset is the land itself: a sprawling, tree-shaded backyard offering privacy and space that's hard to find at this price point, plus a two-car garage and driveway. The lot's MF10 multi-family zoning allows up to ten units per acre, opening the door to adding one or two additional units alongside the existing home (subject to City of Atascadero approval, setbacks, and utility capacity) a great option for multi-generational living, rental income, or a longer-term development play. Located near Atascadero Unified schools, minutes from downtown, and an easy drive to the coast, wine country, and Highway 101. This is a value-add opportunity, not a move-in-ready home, priced to reflect the work ahead, with genuine upside for a buyer who sees the potential in the land and the location. Buyer to verify all zoning, unit count, permitting, and development feasibility with the City of Atascadero. Square footage, lot size, and property details are from public records and have not been independently verified.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.1 |
| Baths | 2.0 | 2.2 |
| Square foot | 1,111 | 1,972.38 |
| Lot Size | 11,640 | 42,681.487 |
| Price | $600.0K | $888.9K |
| Price per sq ft | $540 | $467 |
| Built year | 1959 | 1990 |
| HOA | $0 | $225 |
| Days on market | 41 | 58 |
Sep 14, 2026
$600,000
Initial Listing