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$ 3,195,000
Est. payment /mo
Active
3380 Bullock Lane San Luis Obispo, CA 93401
8 Beds
0.5 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-33328
Bedrooms 8
Lot Size 0.498 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
3380 Bullock Lane presents a rare opportunity to acquire a turn-key, pride of ownership multifamily asset in one of San Luis Obispo's most sought-after rental markets. The 8-unit property has been meticulously maintained and thoughtfullyupgraded, 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. Laundry is on-site coin-operated laundry facilites.
Location
State CA
County San Luis Obispo
Zoning Public Rec
Direction Take CA-227 (Broad Street) headed southeast towards Orcutt Road, then turn onto Bullock Ln.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 053071010
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Michael Lopus Colliers International