Here'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.


Residential Income
SLO - San Luis Obispo
San Luis Obispo(380)
Wall Heater
Sewer Connected, Water Connected
11-15 Units/Acre, Lot 10000-19999 Sqft


Laminate, Tile, Wood



Broker Reciprocity Courtesy of Triad Real Estate Group


Based on information from California Regional Multiple Listing Service, Inc. as of 09/24/2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.


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