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12 Units Near DT SLO & Cal Poly 505 Brizzolara St 12 Unit Apartment Building $4,425,000 ($368,750/Unit) 5.01% Cap Rate San Luis Obispo, CA 93401
Investment Highlights
- Zinsco electrical replacement, brand new main panel (2020).
- Exterior fully repainted (2023).
- New roof & gutters installed (2020).
- Back fence along creek replaced (2024).
Executive Summary
Set amid lush landscaping in a serene, park-like setting, 505 Brizzolara Street is a 12-unit multifamily property* in the heart of San Luis Obispo. The asset consists of ten (10) two-bedroom/one-bathroom apartments and two studios, all well maintained and featuring gracious floor plans filled with natural light and charm. Select upstairs units showcase exposed wood-beamed ceilings, adding warmth and character.
Residents benefit from a private parking lot, on-site laundry, and a communal patio area. The centrally located property is moments from all that San Luis Obispo has to offer, with downtown shopping, dining, and entertainment within walking distance and Cal Poly just two miles away. This is a rare opportunity to acquire a quality investment asset in a premier San Luis Obispo neighborhood.
*Unit 12 was converted from an office to a studio in 2024. The work was not permitted.
Recent Capital Expenditures
· Zinsco electrical replacement, brand new main panel (2020)
· New roof & gutters installed (2020)
· Exterior fully repainted (2023)
· Back fence along creek replaced (2024)
Residents benefit from a private parking lot, on-site laundry, and a communal patio area. The centrally located property is moments from all that San Luis Obispo has to offer, with downtown shopping, dining, and entertainment within walking distance and Cal Poly just two miles away. This is a rare opportunity to acquire a quality investment asset in a premier San Luis Obispo neighborhood.
*Unit 12 was converted from an office to a studio in 2024. The work was not permitted.
Recent Capital Expenditures
· Zinsco electrical replacement, brand new main panel (2020)
· New roof & gutters installed (2020)
· Exterior fully repainted (2023)
· Back fence along creek replaced (2024)
Property Facts
| Price | $4,425,000 | Apartment Style | Low-Rise |
| Price Per Unit | $368,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 5.01% | Building Size | 7,894 SF |
| Gross Rent Multiplier | 13.18 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2023 |
| Property Subtype | Apartment | Parking Ratio | 2.03/1,000 SF |
| Zoning | R3 - Multi-family | ||
| Price | $4,425,000 |
| Price Per Unit | $368,750 |
| Sale Type | Investment |
| Cap Rate | 5.01% |
| Gross Rent Multiplier | 13.18 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 7,894 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2023 |
| Parking Ratio | 2.03/1,000 SF |
| Zoning | R3 - Multi-family |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 9 | - | - |
| 3+1 | 1 | - | - |
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (82)
Property Taxes
| Parcel Number | 002-392-018 | Improvements Assessment | $2,159,949 |
| Land Assessment | $1,531,102 | Total Assessment | $3,691,051 |
Property Taxes
Parcel Number
002-392-018
Land Assessment
$1,531,102
Improvements Assessment
$2,159,949
Total Assessment
$3,691,051
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12 Units Near DT SLO & Cal Poly | 505 Brizzolara St
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