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1771 Johnson Ave 9 Unit Apartment Building $3,900,000 ($433,333/Unit) San Luis Obispo, CA 93401
EXECUTIVE SUMMARY
One of a kind investment opportunity in downtown San Luis Obispo. This property includes nine incredibly well built, standalone, single family cottages all with attached single car garages. The nine cottages consist of three 2 bed/1.5 bath, two studio/1 bath and four 1 bed/1.5 bath. Each cottage has its own personal backyard and additional off street parking space. All units boast an abundance of natural light, steel roofing, dual pane encased windows, original bamboo flooring, high ceilings and Rinnai tankless water heaters. Washer and dryer hook ups located in each garage. Entry and driveways consist of cobble pavers and lined with mature landscaping. Property includes a quaint and maintained common area seating area. This property is centrally located, minutes from the famous downtown area, Cal Poly Campus, SLO High campus, 101 access, local wineries and hiking trails. It sits in the beautiful banana belt weather area. This property is highly desirable to renters and has historically low vacancies.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$210,180
|
$25.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$210,180
|
$25.38
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$25,389
|
$3.07
|
| Net Operating Income |
$184,791
|
$22.31
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $210,180 |
| Annual Per SF | $25.38 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $210,180 |
| Annual Per SF | $25.38 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $25,389 |
| Annual Per SF | $3.07 |
| Net Operating Income | |
|---|---|
| Annual | $184,791 |
| Annual Per SF | $22.31 |
PROPERTY FACTS
| Price | $3,900,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $433,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| No. Units | 9 | Building Size | 8,282 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2010 |
| Zoning | R3 - Residential | ||
| Price | $3,900,000 |
| Price Per Unit | $433,333 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 8,282 SF |
| No. Stories | 3 |
| Year Built | 2010 |
| Zoning | R3 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $2,050 | 483 - 493 |
| 1+1.5 | 4 | $2,575 | 1,031 - 1,036 |
| 2+1.5 | 3 | $2,950 | 1,052 |
1 1
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 003-563-025 | Improvements Assessment | $2,543,661 (2025) |
| Land Assessment | $1,195,209 (2025) | Total Assessment | $3,738,870 (2025) |
PROPERTY TAXES
Parcel Number
003-563-025
Land Assessment
$1,195,209 (2025)
Improvements Assessment
$2,543,661 (2025)
Total Assessment
$3,738,870 (2025)
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1771 Johnson Ave
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