NOT LISTED FOR SALE

1429 Nipomo St San Luis Obispo, CA 93401

Downtown San Luis Obispo Neighborhood
7 Beds
3 Baths
3,312 Sq Ft
0.31 Acres

Last Sold October 04, 2021

Last sale price $1,565,000 $473 Per Sq Ft

10 Days on Market

Highlights

  • 0.31 Acre Lot
  • Craftsman Architecture
  • Living Room Balcony
  • Laguna Middle School Rated A
  • Mountain View
  • 1-minute walk to Emerson Park

About This Home

As of October 2021

Situated in the heart of Downtown SLO & walking distance to everything. This versatile R2 property features an older home in front currently configured as a 1669 sq. ft. triplex consisting of a 2bed unit, 1bed unit and a studio which generates strong income. This structure could be easily converted back to a SFR & turned into a beautiful home similar to those across the street. The back building is approximately 1643 sq. ft. & features 3 highly desirable studio units with lofts. These studio's are much larger and more spacious than a typical studio (approx 540sq.ft./ea). The interiors are somewhat rustic in feel with cedar siding (imagine Big Sur in SLO), large galley kitchen, wood burning fireplace, sizeable pantry, large bathroom and each of the units has their own private back yard space. There is plenty of off-St. parking & on-site laundry for the complex. The property has been well maintained over the years and has very low turnover due to the outstanding downtown location. There is plenty of upside potential with this property, don't miss out on this very special property. Property is a "Contributing Historical Property" located in the "Old Town Historic District".

Last Agent to Sell the Property

Steve Ferrario

BHGRE HAVEN PROPERTIES License #01033421 Listed on: 08/26/2021

BHGRE HAVEN PROPERTIES

Last Buyer's Agent

Leslie Anderson Mills

RE/MAX Parkside Real Estate License #02099335

RE/MAX Parkside Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1884

Lot Details

  • 0.31 Acre Lot
  • 1 Common Wall
  • Level Lot

Property Views

  • Mountain
  • Neighborhood

Home Design

  • Craftsman Architecture
  • Traditional Architecture
  • Split Level Home
  • Property Attached
  • Pillar, Post or Pier Foundation
  • Raised Foundation
  • Slab Foundation
  • Wood Siding

Interior Spaces

  • 3,312 Sq Ft Home
  • 1-Story Property
  • Living Room with Fireplace
  • Living Room Balcony

Kitchen

  • Gas Oven
  • Gas Range

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • Parking Available
  • Brick Driveway

Utilities

  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for gas
  • Legal Lot and Block 3 / 1
  • Assessor Parcel Number 003615006

Community Details

Overview

  • 2 Buildings
  • 6 Units
  • San Luis Obispo Subdivision

Building Details

  • 6 Leased Units
  • 2 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $5,386
  • Insurance Expense $2,417
  • Other Expense $1,503
  • Professional Management Expense $5,512
  • Trash Expense $1,078
  • Water Sewer Expense $3,780
  • New Taxes Expense $15,000
  • Operating Expense $33,173
  • Gross Income $94,500
  • Net Operating Income $61,327

Property Details

Home Type

Multi-Family

Year Built

Built in 1884

Lot Details

0

Listing Details

  • Assessments: No
  • Professional Management Expense: 5512.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Subdivision Name Other: San Luis Obispo(380)
  • View: Yes
  • Water Sewer Expenses: 3780.00
  • Zoning: R2
  • Architectural Style: Craftsman, Traditional
  • Property Type: Residential Income
  • Parcel Number: 003615006
  • Year Built: 1884
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Living Room Balcony
  • Stories: 1
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Laminate
  • Appliances: Yes
  • Fireplace Features: Living Room
  • Levels: One, Multi/Split
  • Price Per Square Foot: 472.52

Exterior Features

  • Foundation: Pillar/Post/Pier, Raised, Slab
  • View: Mountain(s), Neighborhood
  • Fence: No
  • Pool Private: No
  • Construction Materials: Wood Siding

Garage/Parking

  • Parking: Yes
  • Parking Features: Driveway, Asphalt, Driveway - Brick

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range
  • Heating Type: Natural Gas
  • Laundry Features: Individual Room
  • Sewer: Public Sewer
  • Trash Expense: 1078.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level
  • Lot Size Sq Ft: 13440.00
  • Lot Size Acres: 0.3085

Rental Info

  • Tenant Pays: Gas

Multi Family

  • Electric Expense: 5386.00
  • Gross Income: 94500.00
  • Gross Multiplier: 15.80
  • Gross Operating Income: 94500.00
  • Gross Scheduled Income: 94500.00
  • Insurance Expense: 2417.00
  • Laundry Equipment Own Lease: Lease
  • Lot Size Area: 13440.0000 Square Feet
  • Net Operating Income: 61327.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Number With Range: 7
  • Number With Refrigerator: 7
  • Operating Expense: 33173.00
  • Operating Expense Percent: 35.00
  • Other Expense: 1503.00
  • Other Expense Description: gas
  • Rent Control: No
  • Total Actual Rent: 7875.00
  • Total Expenses: 33173.00

Tax Info

  • New Taxes Expense: 15000.00
  • Tax Block: 1
  • Tax Census Tract: 111.02
  • Tax Lot: 3

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/04/2021 10/04/21 Sold $1,565,000 +4.3% $473 / Sq Ft
09/05/2021 09/05/21 Pending -- -- --
08/26/2021 08/26/21 For Sale $1,499,999 -- $453 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Steve Ferrario

    Seller's Agent in 2021

    Steve Ferrario

    BHGRE HAVEN PROPERTIES

    (805) 215-3350

    10 in this area

    52 Total Sales

    Steve Ferrario
    Section Image
  • Leslie Anderson Mills

    Buyer's Agent in 2021

    Leslie Anderson Mills

    RE/MAX

    (530) 210-3405

    2 in this area

    27 Total Sales

    Leslie Anderson Mills
    Section Image
  • Jennifer Rogers

    Buyer Co-Listing Agent in 2021

    Jennifer Rogers

    RE/MAX

    (805) 391-0512

    2 in this area

    69 Total Sales

    Jennifer Rogers
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SC21186596

California Regional Multiple Listing Service (CRMLS)
California San Luis Obispo County San Luis Obispo 93401 Downtown San Luis Obispo

1429 Nipomo St, San Luis Obispo, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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