$999,999

5190 Palma Avenue, Atascadero, CA 93422

  • 4 beds |
  • 2 baths
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon0.38acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

Located at 5190 & 5200 Palma Avenue, The Palms presents a rare and highly refined high-density multifamily developmentwith 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 Atascaderos 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 citys 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 parcelan 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 propertys defining strength, offering immediate walkability to Atascaderos revitalized downtownnow featuring a new pedestrian mall, mixed-use development, local dining, breweries, boutique shopping, and year-round community eventswhile 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 econo

Listing Status:
Active
Date Added:
December 14, 2025
Data Last Updated:
March 4, 2026 at 12:12AM
Listing Office:
Invest SLO : 805-709-7143
Listing Agent:
Chelsea King : 805-540-9333
MLS ID:
PI25278806
  • A/C: Wall/Window
  • Heating: Natural Gas
  • General: N/K
  • Pool: N/K
  • General: Stucco1 Story
  • HOA Amenities: 0.0
  • Originating MLS: California Regional MLS
  • County: San Luis Obispo
  • Zoning: Public Rec029302038
  • Source: California Regional MLS

This listing courtesy of Chelsea King , Invest SLO

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

F

Fine Arts Academy

6100 Olmeda Ave, Atascadero, CA, 93422

Grades 4-8

0.48 miles away

F

Fine Arts Academy

6100 Olmeda Ave, Atascadero, CA, 93422

Grades 4-8

0.48 miles away

A

Atascadero High School

1 High Sch Hill, Atascadero, CA, 93422

Grades 9-12

0.77 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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