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30836734
30836735

505 Brizzolara Street, San Luis Obispo, CA 93401

SG
CA 00772218
Radius Commercial Real Estate & Investments Santa Barbara
ML
01970736, Lic.ID#01970736 (+1)
Radius Commercial Real Estate & Investments
Listed by Radius Commercial Real Estate & Investments Santa Barbara, Radius Commercial Real Estate & Investments
$4,425,000
1188 days on market
Updated 61 days ago

505 Brizzolara Street

Details
APN 002392018
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,894
Units 12
Cap Rate 3.62%
NOI $160,285
Price per SqFt $561
Year Built 1963
Buildings 1
Stories 2
Acreage 0.374
Zoning Public Rec
Parking Spaces 16 spaces
Parking Per SqFt 2.03

Multifamily | 12 Units | $368,750/unit

Marketing description

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 CapEX: Zinsco electrical replacement, brand new main panel (2020)New roof & gutters installed (2020)Exterior fully repainted (2023)Back fence along creek replaced (2024)

Investment highlights

  • Unit Mix: (10) 2 Bed/1 Bath; (1) Studio

  • 16 Parking Spaces

  • The Seller is Keeping Two Units Vacant While On the Market

  • Additional Office Can be Easily Converted into 3 Bedroom/ 2 Bath Apartment By Joining it with the Neighboring Vacant Unit

  • Some Units Have Received Renovations

  • Great Upside Potential in Rents

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Listing Contacts

SG
CA 00772218
Radius Commercial Real Estate & Investments Santa Barbara
ML
01970736, Lic.ID#01970736 (+1)
Radius Commercial Real Estate & Investments
Listed by Radius Commercial Real Estate & Investments Santa Barbara, Radius Commercial Real Estate & Investments

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$160,285.00
$13,357.08/mo

Valuation Metrics

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DSCR
3.62%
Cap Rate
3.62%
ROI

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