940 Main St is aland property for lease in Half Moon Bay, CA.
This property has a Tentative Map for 12 residential duplexes (24 units total). If the duplexes are built out with one 3 bedroom unit, one 2 bedroom unit and two 2-car garages, each duplex would sell in the neighborhood of $1,200,000+ in today's dollars.
An alternative use could be senior care / assisted living.
Included is one existing single family residence built in the 1870's. It is leased month-to-month. Current fair market rent would fall in the $3600 - $3800 range.
Also included are one 5/8" installed water meter, 22 5/8" prepaid uninstalled water meters and an agricultural well. Water meters for residential use are not available from the local water utility company. Transferrable water meters are scarce but available in the secondary market, valued at $50,000 - $55,000 each.
Lot #1 fronting on Main St. may possibly be further subdivided.
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