9109 Principal Ave, Atascadero, CA 93422

Property Description

Attention all builders and developers!!! Principal Mixed Use Project consists of Tract 3070 at 9105, 9107, and 9109 Principal and 9300 Pino Solo. Fully entitled for 52 houses consisting of 4 different plan types that includes townhouses, live work townhouses, stacked flats, and detached houses. Atascadero is a bedroom community of San Luis Obispo County. The projects's location is at the south end of Atascadero allows a commute of approx. 15 minutes to SLO. Principal will have monthly HOA dues of approx $100 per month. The project must sell 3 stacked flat units to low income buyers and 1 stacked flat unit to a moderate income buyer. In October, 2019, the price limit for a low income buyer is $221,000 and a Moderate Income buyer is $425,000. There is a recorded REA between the housing development and the adjacent Quiky car wash. Quiky pays for all of the cost of maintaining the shared access driveway. The Quiky car wash opened in Summer, 2019. Its operations do not create enough noise to impact house sales. The REA provides that Quiky Car Wash is responsible for any improvements along El Camino Real. To the best of our knowledge, in 2020 and 2021, Principal will be the only entry level housing project under construction in North County (consisting of Atascadero, Templeton, and Paso Robles)which has a combined population of approximately 100,000. Similar products sold in 2017-2018 went for an average price of $465,000.