Unique opportunity to acquire a 38-unit multifamily project with 5 units allowed for short-term / hotel use. Located in the burgeoning Broad Street corridor, the project has approved building permits that are ready to pull. This allows the buyer to expedite over 3+ years of city planning and start the project immediately after close of escrow. Market value rent growth in San Luis Obispo continues to climb due to a shortage of housing options. Smaller, single occupancy units are especially in high demand and regularly see many applicants when one hits the market. Reap the benefit of the highest per square foot rents in these studios and one bedrooms. Full plan set and proforma profit and loss available upon request.
Property Details
Price:
$2,420,000
MLS #:
SC23131161
Status:
Active
Baths:
0
Address:
3249 Broad Street 004601023
Type:
Land
City:
San Luis Obispo
Listed Date:
Jul 17, 2023
State:
CA
ZIP:
93401
Subdivision:
San Luis Obispo380
Lot Size:
37,234 sqft / 0.85 acres (approx)
Year Built:
Schools
Interior
Exterior
Community Features
Biking, Curbs, Dog Park, Foothills, Golf, Hiking, Gutters, Lake, Park, Mountainous, Preserve/ Public Land, Sidewalks, Storm Drains, Street Lights, Suburban
Lot Features
36-40 Units/ Acre, Park Nearby
View
City Lights, Creek/ Stream, Hills, Mountain(s), Neighborhood
Water Source
Public
Financial
Association Fee
0.00
Map
Contact Us
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Full-time Real Estate Broker, sold 1100+ Properties in SLO and SBC County. 38 years of local real estate knowledge and experience. I understand each sale is about you and your goals. I know as we get older, we don’t have time to make up for any mistakes especially when it comes to one the most significant investments. I care about my clients and work very hard to share my knowledge and protect you along the way. I place the appropriate verbiage in the listing and listing agreement depending …
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Courtesy of Acquire Mortgage & Real Estate. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates / JoAnn Outland include the name of the listing broker. Neither the listing company nor Outland and Associates / JoAnn Outland shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2023. California Regional Multiple Listing Service. All rights reserved.3249 Broad Street 004601023
San Luis Obispo, CA
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