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12 Units Near DT SLO & Cal Poly 505 Brizzolara St 12 Unit Apartment Building $6,153,317 CAD ($512,776 CAD/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 | $6,153,317 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $512,776 CAD | 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 | $6,153,317 CAD |
| Price Per Unit | $512,776 CAD |
| 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 | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 002-392-018 | Improvements Assessment | $2,992,048 CAD |
| Land Assessment | $2,120,944 CAD | Total Assessment | $5,112,991 CAD |
Property Taxes
Parcel Number
002-392-018
Land Assessment
$2,120,944 CAD
Improvements Assessment
$2,992,048 CAD
Total Assessment
$5,112,991 CAD
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12 Units Near DT SLO & Cal Poly | 505 Brizzolara St
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