Residential Income, California | Page 1-001-11-30T00:00:00-08:00
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San Luis Obispo, 284 Chorro Street

Price: $10,750,000
Units Total: 0
Lot Size: 62,291
Living Area: 0
Year Built: 1959
Parking: 35
Days on Market: 75
Description: First time on the market in 31 years! Amazing property within walking distance to Cal Poly. The property has a unit mix of (10) 1/1, (18) 2/1 and (7) 2/1 bungalow style units. Two common laundry rooms, one garage per apartment that includes a large storage space within. Close to everything! Offers will be reviewed after Oct 8th.

1173 Fair Oaks Avenue

Price: $5,250,000
Units Total: 28
Lot Size: 60,984
Living Area: 23,370
Year Built: 1980
Parking: Yes
Days on Market: 919
Description: Marketing Remarks: The property consists of 5 buildings, each two story with wood frame and stucco construction. The property has been well maintained and has had recent improvements to both the exterior and interiors. The individual units are well sized with one bedroom and two bedroom units. Common areas include storage, a swimming pool, laundry facility, and a stand alone leasing office. There is abundant off street parking both covered and uncovered. The property includes a greenbelt at rear of property, with potential for additional units. Owner had approved plans for an additional 8 units on back greenbelt, laundry room expansion, and hot tub installation (Plans need update, use permit expired). The property is conveniently located near parks, schools, major retail, and employment. Rents are being raised substantially on turned over units, but there is still significant upside in rents. Selling at $187,500 per unit where single family homes in the neighborhood are selling above $500,000.

410 West MICHELTORENA Street

Price: $5,250,000
Units Total: 12
Lot Size: 16,553
Living Area: 12,014
Year Built: 1968
Parking: Yes
Days on Market: 221
Description: This recently updated 12 + apartment multi-family investment generating a 4% cap return features a 12,014 square foot building with 16 covered parking spaces, onsite laundry, and lovely landscaped grounds. New flooring, updated kitchens / baths, fresh paint and close to market rents with room to grown makes this an excellent opportunity! Assumable financing is available for 50% of the list price.

Santa Barbara, 28 Pedregosa Street

Price: $4,395,000
Units Total: 0
Lot Size: 16,988
Living Area: 0
Year Built: 1946
Parking: 14
Days on Market: 139
Description: Rare opportunity to acquire an asset of this size located in the highly desirable Oak Park neighborhood in the heart Santa Barbara! This beautiful 14-unit apartment complex is just one block to State Street, near Cottage Hospital, Alice Keck Memorial Gardens, Alameda Park, Opal, The Granada Theatre, The Arlington Theatre, Santa Barbara Public Market and so much more. Wonderful unit mix of 14 spacious units: (2) Studios and (12) 1BD / 1BA apartments, common laundry room and quaint shared courtyard. Carport has a new roof and the driveway has just been resurfaced. The carport area has a new slurry covering, includes one parking space per tenant and a large storage area within each space. Terrific upside in rents that are below market. CAP Rate, GRM and NOI shown represent proforma. Contact Listing Agents for further details. Offers to be reviewed after August 10th.

San Luis Obispo, 1137 Peach Street

Price: $3,900,000
Units Total: 5
Lot Size: 37,500
Living Area: 5,685
Year Built: 1906
Parking: 0
Days on Market: 529
Description: Great Development potential. Currently 5 homes on one R-2 Parcel in the San Luis Obispo Mill Street Historical District in Downtown. Four 3 bedroom homes and One 2 bedroom with room to add more units. One of the few great downtown development projects. All units are currently lease to provide income during the approval process.

Sierra Madre, 69 East Laurel Avenue

Price: $3,650,000
Units Total: 9
Lot Size: 22,673
Living Area: 0
Year Built: 1924
Parking: 1
Days on Market: 159
Description: 9 Residential units in Sierra Madre (public records reflect 10 units). Walk to Kersting Court.

Paso Robles, 717 Creston Road

Price: $3,500,000
Units Total: 8
Lot Size: 18,000
Living Area: 7,200
Year Built: 1986
Parking: 16
Days on Market: 279
Description: Great Opportunity. 8 units, 4 buildings, 8 2 bedroom 1.5 bath units. Professionally managed and maintained with care and concern. All units sold together. Large parking area, covered parking as well. These units have been will cared for by the existing owners. This is a rare find in Paso Robles, with this city not having many rental units. The median Rental value for a 2 bedroom home is about $2200 per month in San Luis Obispo County per the tracking from Zillow. These units are close to schools, shopping and transportation. Great 1031 exchange potential.

Santa Barbara, 114 NATOMA Avenue

Price: $3,295,000
Units Total: 8
Lot Size: 9,148
Living Area: 3,920
Year Built: 1928
Parking: Yes
Days on Market: 94
Description: Amazing opportunity to own a wonderful beach property that sits in the highly sought after West Beach Neighborhood. This 8 unit complex is just a couple of blocks from the sand and gorgeous waterfront. The charming property is located near parks, the harbor, Stearns Wharf, FunkZone, restaurants, transportation as well as many cultural opportunities to explore. Wonderful unit mix of (5) 1bd / 1ba, (3) studios. Please do not disturb the tenants.

Isla Vista, 6745 Del Playa Drive

Price: $3,250,000
Units Total: 4
Lot Size: 13,503
Living Area: 4,800
Year Built: 1967
Parking: Yes
Days on Market: 443
Description: PRICE REDUCED TO 7% CURRENT CAP RATE. An exceptional price. Landlord leaving the State. Del Playa Apartments is a well maintained 4-unit (30 Bed) student housing complex that consists of two 2-story buildings in the neighborhood of Isla Vista, California. Set on a combined 13,503 square foot lot, the 4,800 combined square foot property offers 15 bedrooms with a total of 30 beds at a current monthly income of $27,010. Built in 1967, the properties are non-rent-controlled, adjacent to UC Santa Barbara, have spectacular ocean views, partially updated kitchens and bathrooms, balconies, large living rooms, ample storage and parking. Del Playa Apartments is located along Del Playa Drive between Camino Corto to the west and Camino Del Sur to the east. The property overlooks the beach to the south and Sabado Tarde Road is just north.

San Luis Obispo, 3229 Broad

Price: $3,240,000
Units Total: 8
Lot Size: 26,000
Living Area: 11,250
Year Built: 2013
Parking: 0
Days on Market: 268
Description: This Mixed-Use property can be purchased with OWNER FINANCING. Owner will consider up to 75% carry back to all qualified Buyers. This property is well designed offering unique architectural lines and function. The outstanding location offers tenants easy access to multiple ethnic restaurants, a micro brewery and a range of services and retail outlets. This mixed-use development might be ideal for an owner user. The residential income is approximately $100,000.00 per year. The eight units are very spacious, with 6 (1) Bedroom (1) bath units and 2 (3) Bedroom (2) Bath units. The commercial / retail building is currently being re-entiled into up to 6 commercial condos by Above Grade Engineering. The location would be ideal for an engineering firm, Tech Company, CPA, architects, legal, real estate or other professional services company. Seller is in the process of entitling the Commercial building into up to 6 Commercial Condos FOR SALE at market rates. Take advantage of the opportunity to leverage this asset with OWNER FINANCING now!

1688 Quiet Oaks Drive

Price: $2,499,000
Units Total: 0
Lot Size: 473,933
Living Area: 8,304
Year Built: 1980
Parking: 2
Days on Market: 244
Description: Where do you start on a property like this? This is truly a one of a kind property. Spread out on just under 11 acres stand 5 fully permitted single family homes. The original home is a 5 bedroom, 3 bath 3904 sq.ft home, with an attached 2 bedroom, 1 bath “apartment” that is included in the square footage. The secondary home is a 3 bedroom, 2 bath, 2500 home (all dirt around this home will be filled with fresh sod in a week or two). Then there are three additional homes spread out amongst the property. The first is a 1 bedroom, 1 bath, 400 sq.ft home. The second is a 2 bedroom, 1 bath, 900 sq.ft home. The third is a 1 bedroom, 1 bath, 600 sq.ft home. Check out the map in the pictures to see the rental income breakdown of all the homes and the total income generated on a yearly basis. Owners have a transfer development credit (TDC) on file with the county so the lot can be split in to two 5 acre parcels. And if split, will be allowed to still build two additional homes. One secondary unit on one and one primary unit on the other. Did I mention the views? Enjoy sweeping views of Laetitia Vineyards all the way to the Pismo Heights and Bishops Peak from three of the residents! The owners used to run an elderly care facility out of the original main 3904 sq.ft home. Wedding venues, care facility, recovery facilities, the possibilities are endless with this truly one of a kind property. *interior pictures to come shortly! *

316 South Halcyon Road

Price: $2,421,500
Units Total: 8
Lot Size: 34,412
Living Area: 8,776
Year Built: 2015
Parking: 4
Days on Market: 177
Description: Total of 8 rental properties including shed / barn structure which generates income for storage. Arroyo Grande (Multi-Residential and Commercial Property) arrives! 5 residences w / three houses, one duplex, and A NEWLY ADDED TWO STORY DREAM BUSINESS STRUCTURE BUILDING FOR TWO BUSINESSES. Separately gas and electric metered. Work your business while rentals subsidize cash flow Includes new buiilt / remodeled buildings, homes and more. Improvements remain beyond fabulous and strategically located across from Arroyo Grande Community Hospital. Please refer to the attachment for future build-outs of duplex, and a medical facility where the eastern-most home currently exists. Total of 24 parking spaces on the property; four covered. Four of the five homes featuring 2 bdrms and 1 bths, the fifth home has 2 bathrooms. All kept in excellent condition. THE BUSINESS / COMMERCIAL PORTION FEATURES TWO PREMIUM BUSINESS SPACES NEWLY BUILT W 2810 ADDITIONAL SF. Total Currently rented for $9424 per month. The total (eight) structures and all are rented with long-term renters at below market values. Possible medical office space, and existing plans for a new two story duplex included with the sale. A lot-split is in the works. All residential units 312,316,320,324 and 328 have washer / dryer hookups gas and electric. Great location! Remember what Mom and Warren Buffet always say: LOCATION, LOCATION, LOCATION! What are you waiting for? Have your agent, write up a complete offer. Perfect landing for a tax-exchange

2750 Davis Canyon Road

Price: $2,300,000
Units Total: 0
Lot Size: 1,234,055
Living Area: 3,910
Year Built: 1994
Parking: 0
Days on Market: 34
Description: Investment property with idyllic country setting in See Canyon. This property has it all, licensed VRBO, and a place for your own living quarters. 6 bedrooms and 4 baths. Themed bedrooms, two baths and indoor laundry room are located with the living quarters on the lower level of the main house. Master bedroom with ensuite, two more bedrooms, den and another full bath are located on the upper level. The detached one-bedroom apartment is complete with a kitchenette, full bath and living area with fireplace, dining and deck that has a panoramic view of the canyon. This property is being sold fully furnished and has been used for wedding receptions.

823 De La Guerra Street

Price: $2,095,000
Units Total: 0
Lot Size: 7,405
Living Area: 0
Year Built: 1966
Parking: 5
Days on Market: 40
Description: Great value-add 6-unit apartment building at the base of the Lower Riviera close to downtown, shopping, and the Santa Barbara County Bowl. This property presents an opportunity to acquire a well-maintained, stabilized asset with upside in obtaining increases in all rents. Two 2BD / 1BAunits and four 1BD / 1BA units in an approximate 3,900 sq.ft two-story structure have been recently upgraded to include new exterior paint, new wrought iron handrails, new carport roof, new sewer line to street (2018), and two updated units. All three upper units have open-beamceilings with expansive views of Santa Barbara’s Riviera hills. On-site laundry room, six parking stalls, and separate gas and electric meters.

Arroyo Grande, 210 Oak St.

Price: $1,990,000
Units Total: 0
Lot Size: 12,702
Living Area: 6,000
Year Built: 1984
Parking: 10
Days on Market: 254
Description: The possibilities are endless with this wonderful Commercial Property located in the heart of the Central Coast. Sitting just outside the Historic Village of Arroyo Grande is this 6,000 square foot commercial property configured with 10 bedrooms, 8-1/2 baths, a large dining room with fireplace, a full kitchen, and a large family room with fireplace and french doors opening to fully landscaped gardens. The bedrooms are large and include unique architectural and interior design features. The property itself consists of two parcels totaling nearly 1/3 of an acre, and has excellent visibility from US Highway 101. The grounds are fully fenced and very private, and include a 10-space paver-stone parking lot, 2 lovely gardens with lawns and mature fruit trees, a gorgeous gazebo, and a 50-foot stream with waterfalls and koi ponds.   The property was used as a bed and breakfast inn for 23 of the last 29 years and still maintains a 3.6 diamond rating for it’s suites from the Automobile Club of Southern California. This property is well suited for use as a unique Boutique Hotel, Air B and B, Restaurant and Events Location. Other possible uses include office space, multifamily apartment complex, senior care facility, coffee / beer / wine location, wedding venue, and so on. Bring your imagination, or adopt the previous owners’ creation as your own!

Santa Barbara, 1031 Del Sol Avenue

Price: $1,925,000
Units Total: 0
Lot Size: 8,712
Living Area: 0
Year Built: 1934
Parking: Yes
Days on Market: 166
Description: 3 houses on one lot. Zoning R2. Buyer to satisfy themselves with the city. 1029 Del Sol is an adorable 1 bedroom 1 bath cottage rented as Air B and B for 2400-2900 per month. 1031 Del Sol (needs work) rents for $2825 per month1035 Del Sol is a 3 bedroom 1.5 bath and rents for 3075.00 per month

Cayucos, 3192 Ocean Boulevard

Price: $1,800,000
Units Total: 4
Lot Size: 6,600
Living Area: 3,680
Year Built: 1960
Parking: 3
Description: 4-Plex Eligible for a Vacation Rental License! Get it while you can! Major Head to Toe Renovation on this Panoramic Ocean View 4 Plex! (3) Two Bedrooms and Studio. Top 2 Units have excellent views! This is a very flexible investment opportunity to park some 1031 $$$. ALL units have been upgraded in some manor, everything resurfaced, three carports were enclosed to garages, and overall functionality brought back to the property! Property is on a Corner Lot with Side Street access for garages and extra parking. Location for a Vacation Rental is great! Just down the street is a traffic light crossing to the beach! A large Two Bedroom Unit to the South is the premiere Unit, Wide and Open with View Deck. The North Unit Offers similar Views! The Lower Two Bedroom is more a private unit with large porch and faces the back yard. There is a front Studio Apt with enclosed private outdoor space. All the Two Bedrooms have interior Laundry. In between the units are two community rooms or additional storage areas ( $$$). The yard space offers plenty of room for community gardening or as seen fit. Two large storage sheds are also included. Seldom does a property with these views and income producing functionality come to market! Get some income and enjoy Cayucos!

Pismo Beach, 2460 Coburn Lane

Price: $1,750,000
Units Total: 4
Lot Size: 8,820
Living Area: 3,819
Year Built: 1976
Parking: 8
Days on Market: 73
Description: A rare opportunity to purchase a well maintained 4 unit apartment building in the Shell Beach St. Annes neighborhood! Located on the west side of the highway 101 near the beach and an ocean front park, this is what we call an A + location. 2 of the larger units could easily be “owner enjoyed”. The upper front unit has vaulted ceilings in the living area, fireplace, large kitchen, 2 good sized bedrooms, 1 3/4 baths, a private ocean view deck with a single car garage and 2 private parking spaces. The lower front unit is a larger unit as well, with 2 bedrooms and 1 3/4 baths, private side yard and patio, and a 2 car garage. A separate back building consists of an additional two units, both 2 bedroom 1 baths with garages. Each unit is separately metered for gas and electric. A community laundry room is centrally located with coin operated washer / dryers. A special property!

Pismo Beach, 2565 Solano Road

Price: $1,719,000
Units Total: 4
Lot Size: 6,200
Living Area: 3,648
Year Built: 1970
Parking: 4
Days on Market: 101
Description: Rare opportunity to purchase this four-plex in beautiful Shell Beach! Located in the desirable Spyglass neighborhood, this building features four 900 square foot units, each with 2 bedrooms, and 1 bath. The building also includes a community coin operated laundry room, and separate utilities. Easy northbound and southbound access to Hwy 101. Just minutes to San Luis Obispo, Arroyo Grande, Santa Maria, and the Edna Valley wine country.

Pismo Beach, 190 Cliff Avenue

Price: $1,675,000
Units Total: 2
Lot Size: 3,790
Living Area: 1,459
Year Built: 1950
Parking: 1
Days on Market: 36
Description: 190 and 192 Cliff Ave. Location, location, location! Newly built and designed by prominent local architect Warren Hamrick, this Contemporary beauty sits across from the ocean in the heart of Shell Beach. Panoramic ocean and coastline views are breathtaking as well as the beautiful mountain, park and city views. The home features exceptional use of outdoor living featuring a very spacious, panoramic roof top deck with covered balcony and gated front courtyard patio. Custom built, this home is the ultimate beach home with hardwood floors, Quartzite countertops, owned solar system, security system with multiple camera coverage, two tankless water heaters, wall mounted fireplaces in main house and guest unit and a wall of windows facing the ocean that showcase the amazing sunrise and colorful sunset skies. This awesome home has a rare 1 bedroom guest unit with parking and separate meters. Live in the main house and rent out guest quarters or use guest quarters as a vacation getaway and rent the main house. So many great possibilities with this property. Easy to open the house to one larger house and / or enclose covered portion of deck to add living space. A short stroll to restaurants, coffee houses, hiking, parks and multiple beach accesses. Will not last long!

Altadena, 20 East Mariposa Street

Price: $1,650,000
Units Total: 1
Lot Size: 9,352
Living Area: 0
Year Built: 1936
Parking: 0
Days on Market: 431

Oceano, 1258 Strand Way

Price: $1,635,000
Units Total: 1
Lot Size: 1,600
Living Area: 3,120
Year Built: 1991
Parking: 2
Days on Market: 54
Description: GORGEOUS Ocean Front Condo! This is your chance to enjoy your beautiful vacation home and make a GREAT INCOME! Enjoy endless white water views from the relaxation of this amazing home or step out onto the beach for a beautiful stroll. This great condo features 2 Living areas, 2 ocean view decks, 2 ocean front patios and rooftop access. On the main level you will enjoy the large Family Room with adjacent Kitchen and Dining areas, all with an ocean view! Right outside there are 2 ocean front patios, perfect for BBQing and hanging out. Also on the main level are 2 large Guest Bedrooms and a Full Bathroom. As you walk up the stairs you’ll find the 2nd Living Room area with a wet bar and ocean view deck. You will be impressed by the massive Master Suite and Bathroom with its own deck to enjoy a cup of coffee in the mornings. There is also a large guest Bedroom and Bathroom located upstairs. The home is in great condition and has been nicely maintained. There are 5 units in this gated complex and each comes with 2 parking spaces in the underground garage. The unobstructed views are breathtaking! Please see attachment for income / expenses.

Isla Vista, 6757 Del Playa Drive

Price: $1,625,000
Units Total: 2
Lot Size: 13,939
Living Area: 2,532
Year Built: 2007
Parking: 12
Days on Market: 212
Description: PRICE REDUCED TO 7% CURRENT CAP RATE. An exceptional price. Landlord leaving the State. Beach Front Del Playa Apartments is a well maintained 2-unit (16 Bed) student housing duplex that consists of a 2-story building in the neighborhood of Isla Vista, California. At a current monthly income of $13,350, the 2,532 square foot property offers two units with 4 bedrooms each, totaling 16 beds on a 13,939 square foot lot. Built in 2007 and renovated in 2018, the property offers spectacular ocean views, large back patio, ample parking and is adjacent to UC Santa Barbara.

Santa Maria, 909 North Broadway

Price: $1,295,000
Units Total: 15
Lot Size: 6,534
Living Area: 5,176
Year Built: 1920
Parking: Yes
Days on Market: 363
Description: Investors dream, large corner lot, over 18000 sq.ft. Zoned Commercial / Residential / Mix use. 15 units, most have kitchennets, some with covered parking. Owner has remodeled with new roof, doors, windows, stucco, paint, railings, electrical upgrade and some new appliances, plus replaced main sewer line. These units are rented on a monthly basis, there are 2 APN’S, 909 AND 905 N. Broadway, located smack in the City. Seller pay for all utilities, taxes and insurance. Drive by only, do not disturb tenants. Only serious and qualified buyer will view units with acceptable offer.