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Listed by Michael Puhek, DRE #01441759 • RE/MAX Success
$ 3,700,000
Est. payment /mo
Price Dropped by $500K
356 N Chorro San Luis Obispo, CA 93405
0.3 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPI26222236
Year Built 1983
Lot Size 0.297 Acres
Source California Regional MLS
Property Description
Welcome to Leland Lofts, a 14-unit multifamily property in the heart of San Luis Obispo. Across three buildings, the property offers 12 studios, 2 one-bedroom residences with 1 1/2 baths, on-site laundry, storage and 16 parking spaces and 5 storage spaces. The location puts residents within a short walk or bike ride to Cal Poly, the Foothill shopping and dining district and downtown San Luis Obispo. The current tenant culture consists of working professionals, some of whom work at Cal Poly. In recent years current ownership has invested in the property with new windows, new roof, exterior painting, fencing, landscaping and site improvements, new commercial laundry equipment and renovations in multiple units. The property is currently fully occupied with month to month leases. Leland Lofts offers strong current income with potential to raise rents and from unrented storage units. Explore future improvements with the City for additional units subject to independent feasibility review and required approvals. Note: Unit #14 is not included in the list, as the listing only provides space for 13 units. Unit #14 is a 1 bedroom/1.5 bath unit with a current rent of $2,000/month. Broker makes no claim in regards to market rents or construction enhancements. All inform
Location
State CA
County San Luis Obispo
Area Slo - San Luis Obispo
Interior
Heating Forced Air, Wall Furnace
Cooling None
Laundry In Laundry Room, Washer, Washer/Dryer - Owned, Dryer
Exterior
Garage Spaces 16.0
Pool None
Roof Type Shingle,Composition
Building
Lot Description Grade - Level
Story One Story
Water District - Public
Others
Tax ID 052332013
Special Listing Condition Not Applicable
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