3380 Bullock Lane, San Luis Obispo, CA, CA 93401
- $3,075,000
- List Price
- $3,075,000
- Price Change
- ▼ $120,000 1782369932
- Status
- ACTIVE
- MLS#
- V1-33328
- County
- San Luis Obispo
- Year Built
- 1977
- Building Square Feet
- 6,971
- Square Feet
- 21,687
- Days on Market
- 260
- Property Type
- Multifamily
- Stories
- Two Levels
- Neighborhood
- Not Applicable
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.
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Additional Information
- Parcel Number
- 053071010
- Gross Scheduled Income
- $232,200
- Operating Expense
- 75710
- Net Operating Income
- $153,315
- Number of Buildings
- 2
- Lot Features
- Sprinklers None
- Appliances
- Dishwasher, Free-Standing Range, Refrigerator
- Utilities
- Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Heat
- Wall Furnace
- Community Features
- Park
Listing courtesy of Listing Agent: Michael Lopus (mike.lopus@colliers.com) from Listing Office: Colliers International.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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.