C
Seller's Agent in 2018
Clint Nunes
Triad Real Estate Group
383 Lemon St San Luis Obispo, CA 93405
Santa Rosa Neighborhood
9
Beds
5
Baths
4,434
Sq Ft
0.29
Acres
Highlights
- 12,500 Sq Ft lot
- Wood Flooring
- Laundry Room
- Bishop's Peak Elementary School Rated A
- No HOA
- 3-minute walk to Santa Rosa Park
About This Home
As of September 2018Here's your chance to buy an amazing 6 unit income property close to Cal Poly and downtown San Luis Obispo that is great for students and young professionals. This property is fully leased out through August 2019 generating $13,350 per month. This is the highest CAP Rate currently available in San Luis Obispo! This is an extremely high demand location as Cal Poly continues to increase enrollment and local businesses continue to grow. Coupled with the low inventory and high prices, the rental market has seen tremendous growth that continues for years to come. The large 12,500 sq ft property has just undergone a significant amount of work starting with new roofs and new paint on all buildings. Most units have new kitchen and bathroom cabinets, new counters and sinks, new water heaters, new furnaces, new tile and laminate flooring, and new windows. Even the yard ensures minimal maintenance for the new owner. The property is comprised of 4 buildings on the corner of Olive and Lemon St. It has (2) 3 bedroom houses, 1 duplex with 1 bedroom in each and another duplex with a 2 bedroom unit and a 1 bedroom unit. Coin operated laundry brings in additional income. Plenty of off street parking and a large, low maintenance courtyard make a great area to hangout after class. Each unit has separate electric meters that tenants pay. Owner pays for water, gas and trash averaging roughly $635/month combined.
Last Agent to Sell the Property
Clint Nunes
Triad Real Estate Group License #01954616 Listed on: 03/26/2018
Last Buyer's Agent
Madison Ward
License #01954514
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1935
Lot Details
- 0.29 Acre Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Home Design
- 4,434 Sq Ft Home
- Property Attached
- Composition Roof
Flooring
- Wood
- Laminate
- Tile
Bedrooms and Bathrooms
- 9 Bedrooms
- 5 Bathrooms
Laundry
- Laundry Room
Utilities
- Wall Furnace
- Natural Gas Connected
Listing and Financial Details
- Tenant pays for cable TV, electricity
- Assessor Parcel Number 001114022
Community Details
Overview
- No Home Owners Association
- 4 Buildings
- 6 Units
Amenities
- Laundry Facilities
Building Details
- 6 Leased Units
- 6 Separate Electric Meters
- 5 Separate Gas Meters
- 3 Separate Water Meters
- Fuel Expense $1,160
- Insurance Expense $1,919
- Trash Expense $2,493
- Water Sewer Expense $3,984
- New Taxes Expense $24,195
- Operating Expense $33,751
- Gross Income $160,200
- Net Operating Income $126,449
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/28/2018 09/28/18 | Sold | $2,000,000 | -8.9% | $451 / Sq Ft |
| 07/20/2018 07/20/18 | Pending | -- | -- | -- |
| 03/26/2018 03/26/18 | For Sale | $2,195,000 | +113.1% | $495 / Sq Ft |
| 06/08/2016 06/08/16 | Sold | $1,030,000 | -14.2% | $298 / Sq Ft |
| 02/19/2016 02/19/16 | Pending | -- | -- | -- |
| 03/24/2015 03/24/15 | For Sale | $1,200,000 | -- | $348 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
M
Buyer's Agent in 2018
Madison Ward
-
Garry II Holdgrafer
G
Seller's Agent in 2016
Garry II Holdgrafer
Holdgrafer Group, Inc.
(805) 704-6312
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SP18068676
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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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