Address
3249 Broad Street, San Luis Obispo, CA
Price
$ 2,420,000
Property Attributes
- MLS#SC23138279
- TypeCommercial
- CountySAN LUIS OBISPO
- CitySan Luis Obispo
- AreaSan Luis Obispo
- Zip93401
- StyleMulti Family
- Price$ 2,420,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage20106
- Lot Size0.854775 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description
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.
| Price History | |
|---|---|
| 7/27/2023 | Listed $2,650,000 |
| 9/7/2023 | 9% - $2,420,000 |
General Features
| Building Area Units | Square Feet |
|---|---|
| City | San Luis Obispo |
| Community Features | Park |
| County | San Luis Obispo |
| Directions | Head North on Broad from Downtown SLO. On the right past Orcutt stop light |
| Listing Agent | Levi Seligman - BRE#01936432 |
| Listing Agent State License | 01936432 |
| Listing Terms | Cash to New Loan, Conventional, 1031 Exchange |
| Lot Size Square Feet | 37234 |
| MLS Area | SLO - San Luis Obispo |
| Occupancy Description | Vacant |
| Property Sub Type Additional | Multi Family |
| Property SubType | Multi Family |
| Property Type | Commercial Sale |
| Special Listing Conditions | Standard |
| Standard Status | Active |
| Status | Active |
| Street Name | Broad |
| Total Units | 38 |
| Virtual Tour | https://www.instagram.com/reel/Curyw5_LY8J/?utm_source=ig_web_copy_link&igshid=MzRlODBiNWFlZA== |
| Virtual Tour | https://drive.google.com/file/d/1mHIYowgpbNIu7mdQmnvvdfikRmH0Agnd/view?usp=sharing |
Interior Features
| Entry Level | 1 |
|---|---|
| Laundry Features | Common Area |
| Street Suffix | Street |
| Total Stories | 3 |
Exterior Features
| Buyer Agent Compensation | 2.500 |
|---|---|
| Buyer Agent Compensation Type | % |
| Building Area Total | 20106 |
| Lot Features | 36-40 Units/Acre, Gentle Sloping, Near Park, Value In Land, Walkstreet |
| Lot Size Acres | 0.8548 |
| Lot Size Area | 37234 |
| Lot Size Source | Assessor |
| Lot Size Units | Square Feet |
| Number of Buildings | 2 |
| Water Source | Public |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 93401
Price
Visits
Based on information from California Regional Multiple Listing Service, Inc. as of October 1, 2023 10:30 PM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
