Allen House 1700 Osos St 17 Unit Apartment Building $3,895,000 ($229,118/Unit) 6.44% Cap Rate San Luis Obispo, CA 93401

Welcome to the historic Allen House – an early 1900s era home built in the “railroad-vernacular” architecture and located in the beautiful Historic Downtown District of San Luis Obispo. This unique R3 zoned property was significantly renovated in 2023 from the top down, making it ready for generations to come. The property is comprised of a single structure (4,688 SF) containing two units and a total of 17 bedrooms, 2 kitchens, and 4.5 bathrooms. The smaller ADU unit contains 3 bedrooms and 2 bathrooms with it’s own private entrance and kitchen, and the primary home contains 14 bedrooms, two full bathrooms (2nd floor bathroom has two toilets and two showers), one half bathroom, living room, dining room, commercial kitchen, and a covered patio. There is also a detached garage that is ideal for storage. All renovations are fully permitted with the City of SLO and performed by the most reputable local companies in town such as: AGD Architecture + Design, Michael Kalin Structural Engineering, Ed Cuming Construction, Zara Khan Interior Design, and many more trades and subcontractors. Improvements include: New carpet and luxury vinyl plank flooring, new doors, interior and exterior painting, new aluminum clad wood frame windows by Lincoln, new drywall, new kitchen cabinets & countertops, new appliances, new lighting, remodeled bathrooms, new electrical wiring with 400 amp panel & new plumbing lines, pre-wired for EV charger in garage, new sewer lateral connection to street, new roof, new fire escape stairs, whole house fan on third floor, new skylights, Navien tankless water heaters, one inch water meter upsize from previous ? inch, new gutters and downspouts, new concrete and new decking in backyard, front and backyard artificial turf, reinforced foundation supports with new beams/posts/footings, commercial grade 4 inch fire sprinkler line from water main to house with Wilkins double check valve backflow preventer, and much more. This property is an ideal opportunity for those seeking strong rental income as an investment or simply wanting a large residence for a family or multiple families. The Downtown SLO location and R3 zoning allows for flexible alternative uses (with a permit) such as: Bed & breakfast, hostel, religious assembly, school, continuing care, elderly care, day care, fraternities or sororities, hospice, and more. The Allen House is a once in a lifetime opportunity to acquire a legacy property with over 125 years of history.