5190 Palma Avenue, Atascadero, CA 93422
Local realty services provided by:CENTURY 21 Cornerstone
5190 Palma Avenue,Atascadero, CA 93422
$999,999
- 4 Beds
- 2 Baths
- 2,000 sq. ft.
- Single family
- Active
Listed by: chelsea king, abel contreras
Office: invest slo805-709-7143
MLS#:PI25278792
Source:CRMLS
Price summary
- Price:$999,999
- Price per sq. ft.:$500
About this home
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 building plans 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....
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Home facts
- Year built:1958
- Listing ID #:PI25278792
- Added:101 day(s) ago
- Updated:April 24, 2026 at 10:39 AM
Rooms and interior
- Bedrooms:4
- Total bathrooms:2
- Full bathrooms:2
- Flooring:Tile, Vinyl
- Kitchen Description:Gas Cooktop, Gas Oven, Range Hood
- Living area:2,000 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
- Heating:Natural Gas, Wall Furnance
Structure and exterior
- Roof:Asphalt, Shingle
- Year built:1958
- Building area:2,000 sq. ft.
- Lot area:0.38 Acres
- Lot Features:Rectangular Lot, Street Level
- Architectural Style:Traditional
- Construction Materials:Concrete, Stucco
- Exterior Features:FrontPorch
- Foundation Description:Raised
- Levels:1 Story
Utilities
- Water:Public, Water Connected
- Sewer:Public Sewer, Sewer Connected
Finances and disclosures
- Price:$999,999
- Price per sq. ft.:$500
Features and amenities
- Amenities:All Bedrooms Down, Attic, Ceiling Fans, Gas Water Heater, Open Floor Plan, Water Heater
Parking
- Total parking spaces:2
- Parking description:Concrete, Door-Single, Driveway, Garage, Garage Faces Front, On Site
- Garage:Yes
- Garage spaces:2
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