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555 Westmont Apartments 555 Westmont Ave 49 Unit Apartment Building $26,411,000 CAD ($539,000 CAD/Unit) 4.87% Cap Rate San Luis Obispo, CA 93405
INVESTMENT HIGHLIGHTS
- 49-unit premier student housing asset strategically located near the University of Cal Poly, San Luis Obispo.
- Rented by the unit.
- Located at the Highland entrance to Cal Poly, and just a short drive to Cuesta College.
- May be purchased as a part of a 3-property portfolio including 607 Grand Apartments and College Gardens Apartments. Contact Listing Agents.
EXECUTIVE SUMMARY
555 Westmont Apartments is a 49-unit community comprised of six residential buildings arranged around two enclosed courtyards, creating a private, campus-oriented living environment. The property is located just off the highway, offering a direct and convenient approach to Cal Poly via Highland Drive and strong connectivity to downtown San Luis Obispo. Proximity to both Cal Poly and Cuesta College further broadens the tenant base and supports consistent student demand.
The unit mix is well suited for student households, consisting of 26 one-bedroom/one-bath units, 18 two-bedroom/one-bath units, and 5 three-bedroom/two-bath units. The community provides ample on-site parking, including uncovered and tuck-under spaces, with potential upside through a future ADU conversion within the existing carport areas (buyer to verify). Interior renovations present a clear value-add opportunity, allowing a new owner to modernize finishes, increase rents, and enhance long-term cash flow.
ALSO AVAILABLE FOR PURCHASE AS A 3-PROPERTY PORTFOLIO. ALL PROPERTIES UNDER SAME OWNERSHIP: COLLEGE GARDEN APARTMENTS & 607 GRAND APARTMENTS.
The unit mix is well suited for student households, consisting of 26 one-bedroom/one-bath units, 18 two-bedroom/one-bath units, and 5 three-bedroom/two-bath units. The community provides ample on-site parking, including uncovered and tuck-under spaces, with potential upside through a future ADU conversion within the existing carport areas (buyer to verify). Interior renovations present a clear value-add opportunity, allowing a new owner to modernize finishes, increase rents, and enhance long-term cash flow.
ALSO AVAILABLE FOR PURCHASE AS A 3-PROPERTY PORTFOLIO. ALL PROPERTIES UNDER SAME OWNERSHIP: COLLEGE GARDEN APARTMENTS & 607 GRAND APARTMENTS.
PROPERTY FACTS
| Price | $26,411,000 CAD | Apartment Style | Garden |
| Price Per Unit | $539,000 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.00 AC |
| Cap Rate | 4.87% | Building Size | 38,194 SF |
| Gross Rent Multiplier | 13.87 | Average Occupancy | 100% |
| No. Units | 49 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.91/1,000 SF |
| Zoning | R-3 | ||
| Price | $26,411,000 CAD |
| Price Per Unit | $539,000 CAD |
| Sale Type | Investment |
| Cap Rate | 4.87% |
| Gross Rent Multiplier | 13.87 |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.00 AC |
| Building Size | 38,194 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.91/1,000 SF |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 26 | - | 625 |
| 2+1 | 18 | - | 1,000 |
| 3+2 | 5 | - | 1,200 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $6,058,404 CAD | |
| Land Assessment | $7,042,941 CAD | Total Assessment | $13,101,345 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$7,042,941 CAD
Improvements Assessment
$6,058,404 CAD
Total Assessment
$13,101,345 CAD
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555 Westmont Apartments | 555 Westmont Ave
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