Palma Avenue

Atascadero | California

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$1,100,000

Bedrooms

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5190

Palma Avenue

Atascadero | California

5190 Palma Avenue, Atascadero, California, United States. , Atascadero , California

Multi Family in Atascadero

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 economic growth, making it an ideal opportunity for investors seeking both current income and long-term development potential.

Property

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Property Location

5190 Palma Avenue, Atascadero, California, United States., Atascadero California

Local Weather & Climate

Atascadero, California

Current Conditions Updated recently

86 °F

Clear sky

Feels Like 87°F

Humidity 50%

Wind 2 mph

Visibility 6.2 mi

Sunrise 2:09 PM

Sunset 2:12 AM

5-Day Forecast

Wed 18 Mar

Clear

High 86°

Low 86°

Thu 19 Mar

Clear

High 90°

Low 66°

Fri 20 Mar

Clear

High 91°

Low 64°

Sat 21 Mar

Clouds

High 85°

Low 61°

Sun 22 Mar

Clouds

High 84°

Low 57°

Data from OpenWeatherMap

Walkability & Transit Scores

How easy is it to get around Atascadero?

Walkability and transit scores for this address come from the EPA National Walkability Index.

Mortgage Calculator

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Home Price

Down Payment

$100,000

Interest Rate

Loan Term

Estimated Monthly Payment $3,160

Monthly Payment Breakdown

Principal & Interest $2,528

Loan Amount $400,000

Total Interest $337,621

Total Cost $737,621

Potential Tax Benefits (United States)

$0 Est. First Year Interest Deduction

$0 Est. Annual Tax Savings

*Based on post-2017 tax law. Actual deductions depend on filing status, itemization, and current tax laws.

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Important Information

This calculator is for illustrative purposes only and does not constitute a loan offer, pre-approval, or commitment to lend.
Monthly payment estimates do not include property taxes, homeowner's insurance, HOA fees, or other applicable costs which may significantly increase your actual payment.
Interest rates shown are for demonstration only. Actual rates depend on your credit score, down payment, loan type, property location, and current market conditions.
This tool provides estimates only. Consult with a licensed mortgage professional for accurate quotes and personalized advice.
Tax benefit calculations are simplified estimates based on general assumptions for United States. Actual deductions depend on your specific tax situation, filing status, and current tax laws.
Tax Year Information: Tax data shown is based on United States tax year 2025 (fiscal year: January-December), rules effective from 2018 through 2025. Tax laws change frequently and may have been amended since this data was compiled.

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The tax benefit information displayed on this page is provided for general informational and educational purposes only. This information:

Does not constitute tax advice and should not be relied upon as such. Tax laws are complex and vary by jurisdiction, individual circumstances, and are subject to change without notice.
May not be current or accurate for your specific situation. Tax rules are updated frequently by governments, and the information shown may not reflect the most recent changes.
Uses simplified assumptions that may not apply to your circumstances, including filing status, total income, other deductions, alternative minimum tax considerations, and local tax variations.
Should not be used as the basis for any tax planning decisions or financial strategies without consulting a qualified tax professional licensed in your jurisdiction.

Before making any decisions based on potential tax benefits, you should consult with a qualified tax advisor, certified public accountant (CPA), or licensed tax professional who can evaluate your specific circumstances and provide advice tailored to your situation.

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Frequently Asked Questions

Common questions about this property

How many bedrooms and bathrooms does 5190 Palma Avenue, Atascadero, California, United States have?

This apartment at 5190 Palma Avenue, Atascadero, California, United States features 4 bedrooms.

What is the listing price for 5190 Palma Avenue, Atascadero, California, United States?

This property is listed at $110,000,000.

What type of property is 5190 Palma Avenue, Atascadero, California, United States?

This is a apartment located in Atascadero, California. The property is situated in an established neighborhood with convenient access to local amenities and services.