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3380 Bullock Ln 8 Unit Apartment Building $3,195,000 ($399,375/Unit) 4.80% Cap Rate San Luis Obispo, CA 93401
Investment Highlights
- Turn-key 8-unit multifamily in prime San Luis Obispo
- Strong in-place rents with upside in a tight rental market
- Minutes to Cal Poly, Downtown SLO, and Highway 101
- Upgraded interiors with LVP flooring and stainless steel
- Strong in-place rents with upside in a tight rental market
- Ideal for 1031 exchange or portfolio expansion
Executive Summary
3380 Bullock Lane presents a rare opportunity to acquire a turn-key, pride-ofownership multifamily asset in one of San Luis Obispo’s most sought-after rental markets. The 8-unit property has been meticulously maintained and thoughtfully upgraded, featuring modern interiors with luxury vinyl plank flooring, updated kitchens with stainless-steel appliances, and spacious open-concept living areas with private patios.
The building demonstrates strong in-place rents and steady operational performance, offering both secure income and upside potential through continued rent growth in a supply-constrained submarket. Residents enjoy convenient access to Downtown SLO, Cal Poly University, and major employers, with abundant on-site parking and on-site laundry facilities.
With a current CAP rate of 4.8% and a market CAP rate approaching 5.2%, this property provides an attractive blend of yield, stability, and long-term appreciation. 3380 Bullock Lane is the ideal acquisition for an investor seeking a well-positioned, low-maintenance asset in a thriving Central Coast market— perfect for 1031 exchange buyers or those looking to expand their portfolio with a high-quality multifamily property in San Luis Obispo.
The building demonstrates strong in-place rents and steady operational performance, offering both secure income and upside potential through continued rent growth in a supply-constrained submarket. Residents enjoy convenient access to Downtown SLO, Cal Poly University, and major employers, with abundant on-site parking and on-site laundry facilities.
With a current CAP rate of 4.8% and a market CAP rate approaching 5.2%, this property provides an attractive blend of yield, stability, and long-term appreciation. 3380 Bullock Lane is the ideal acquisition for an investor seeking a well-positioned, low-maintenance asset in a thriving Central Coast market— perfect for 1031 exchange buyers or those looking to expand their portfolio with a high-quality multifamily property in San Luis Obispo.
Property Facts
| Price | $3,195,000 | Apartment Style | Low-Rise |
| Price Per Unit | $399,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 4.80% | Building Size | 6,971 SF |
| Gross Rent Multiplier | 13.67 | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1977/2019 |
| Property Type | Multifamily | Parking Ratio | 2.3/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 - 210 - Apartments 5 - 10 Units | ||
| Price | $3,195,000 |
| Price Per Unit | $399,375 |
| Sale Type | Investment |
| Cap Rate | 4.80% |
| Gross Rent Multiplier | 13.67 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 6,971 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2019 |
| Parking Ratio | 2.3/1,000 SF |
| Zoning | R3 - 210 - Apartments 5 - 10 Units |
Amenities
Unit Amenities
- Dishwasher
- Refrigerator
- Stainless Steel Appliances
- Patio
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
Bike Score®
Very Bikeable (84)
Property Taxes
| Parcel Number | 053-071-010 | Improvements Assessment | $714,710 |
| Land Assessment | $1,087,629 | Total Assessment | $1,802,339 |
Property Taxes
Parcel Number
053-071-010
Land Assessment
$1,087,629
Improvements Assessment
$714,710
Total Assessment
$1,802,339
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3380 Bullock Ln
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