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Listed by Michael Puhek Re/Max Success
$ 3,700,000
Est. payment | /mo
9,360 SqFt
$ 3,700,000
Est. payment | /mo
9,360 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,360 sqft
Price per Sqft $395
MLS Listing ID 26002003
Year Built 1983
Lot Size 0.297 Acres
Acres 0.3
Property Sub-Type Multi Family
Source North Santa Barbara County 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.
Broker makes no claim in regards to market rents or construction enhancements. All information dispersed is deemed reliable, but not guaranteed. Buyer and buyer's agent or broker to confirm all facts relating to the property. Contact us for the property fact sheet, rent roll and detailed financial information.
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.
Broker makes no claim in regards to market rents or construction enhancements. All information dispersed is deemed reliable, but not guaranteed. Buyer and buyer's agent or broker to confirm all facts relating to the property. Contact us for the property fact sheet, rent roll and detailed financial information.
Location
State CA
County San Luis Obispo
Interior
Heating Natural Gas
Cooling None
Heat Source Natural Gas
Exterior
Private Pool No
Building
Story 2
Foundation Slab, None
Others
Senior Community No
Tax ID 052-332-013
Acceptable Financing Cash, New Loan, Other
Listing Terms Cash, New Loan, Other
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