Estimated payment $18,222/month
Total Views
14,830
15
Beds
--
Bath
6,180
Sq Ft
$518
Price per Sq Ft
Highlights
- 0.5 Acre Lot
- Up Slope from Street
- 2 Car Garage
- Laguna Middle School Rated A
- Laundry Room
- 4-minute walk to LC YC Cheng Park
About This Home
Very rare investment opportunity in downtown San Luis obispo. Historically operated as a boutique motel in a prime location just a few short blocks away from restaurants, shopping, theaters, city services and all downtown has to offer. This property consists of a total of thirteen standalone units including a 2 bedroom home with two car garage and twelve separate cottages. The individual furnished cottages consist of eight 1 bedroom units and four studios. This unique corner lot of almost 1/2 acre offers residents very close proximity to all of the downtown amenities and Cal Poly along with the onsite conveniences of a separate laundry facility and designated parking. The current below market rents present a huge short term upside opportunity for any experienced investor. Additionally, the long term redevelopment potential of this property would be highly desirable to any opportunistic investor or developer. The new owners can choose to operate this asset as either a motel, Airbnb, long term rental or combination thereof, laying the foundation for the ultimate operational flexibility in maximizing cash flow while they plan for the future redevelopment. Don't let this once in a lifetime investment opportunity slip through your fingers as these types of properties do not come available often.
Listing Agent
Berkshire Hathaway Home Servic Brokerage Email: ehino805@gmail.com License #01987938 Listed on: 05/02/2025
Co-Listing Agent
Berkshire Hathaway Home Servic Brokerage Email: ehino805@gmail.com License #00883991
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,584
Year Built
- Built in 1948
Lot Details
- 0.5 Acre Lot
- 1 Common Wall
Parking
- 2 Car Garage
- 15 Open Parking Spaces
- Parking Available
- Up Slope from Street
- Assigned Parking
Home Design
- Property Attached
Interior Spaces
- 15 Bedrooms
- 6,180 Sq Ft Home
- 1-Story Property
Laundry
- Laundry Room
- Laundry in Garage
Outdoor Features
- Exterior Lighting
Listing and Financial Details
- Assessor Parcel Number 002311001
Community Details
Overview
- 13 Buildings
- 13 Units
- San Luis Obispo Subdivision
Additional Features
- Laundry Facilities
- Rent Control
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $6,584 | $606,526 | $429,480 | $177,046 |
| 2023 | $6,584 | $594,801 | $421,059 | $173,742 |
| 2022 | $6,173 | $583,305 | $412,803 | $170,502 |
| 2021 | $6,076 | $572,035 | $404,709 | $167,326 |
| 2020 | $6,015 | $566,258 | $400,560 | $165,698 |
| 2019 | $5,974 | $557,107 | $392,706 | $164,401 |
| 2018 | $5,839 | $544,601 | $385,006 | $159,595 |
| 2017 | $5,727 | $534,090 | $377,457 | $156,633 |
| 2016 | $5,616 | $523,785 | $370,056 | $153,729 |
| 2015 | $5,532 | $516,046 | $364,498 | $151,548 |
| 2014 | $5,081 | $506,104 | $357,358 | $148,746 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/16/2025 05/16/25 | Pending | -- | -- | -- |
| 05/02/2025 05/02/25 | For Sale | $3,200,000 | -- | $518 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | First American Title Co | |
| Grant Deed | $89,000 | First American Title Co | |
| Interfamily Deed Transfer | -- | First American Title Ins Co | |
| Grant Deed | -- | First American Title Ins Co |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $90,000 | Commercial | |
| Previous Owner | $20,900 | Commercial |
Source: Public Records
Similar Homes in San Luis Obispo, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PI25097884
APN: 002-311-001
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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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