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For sale
    • Listed by: Central Coast Sotheby's International Realty • Andrew Richardson • Contact: 805-781-6040
    $4,100,000

    135 Ferrini Rd, San Luis Obispo, CA 93405

    45beds
    60baths
    7,524sqft
    : 
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    Multi Family
    Built in 2018
    -- sqft lot
    $3,876,000 Zestimate®
    $545/sqft
    $-- HOA

    What's special

    Located just minutes from Cal Poly and downtown San Luis Obispo, 135 Ferrini Rd presents a rare opportunity to acquire a 5 unit fully leased, purpose-built student housing investment completed in 2018. The property is currently generating $24,775 in monthly gross income ($297,300 annually) and offers modern construction, efficient floor plans, and strong in-place cash flow. Ideally situated in one of San Luis Obispo's most desirable rental locations, the property provides convenient access to Cal Poly, downtown, shopping, restaurants, public transit, nearby parks, and some of the area's most popular outdoor recreation, including the Bishop Peak and Madonna Mountain trail systems. With its excellent location, strong income, and contemporary construction, this turnkey investment is well positioned in one of California's most supply-constrained rental markets.
    11 days
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    762
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    29
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    Zillow last checked:

    Listing updated:

    Listed by:

    Andrew Richardson DRE #01872187 andrew@richardsonproperties.com,

    Central Coast Sotheby's International Realty

    Source: CRMLS,MLS#: SC26142002MLS LogoOriginating MLS: California Regional MLS

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 45
      • Bathrooms: 60
      Rooms
      • Room types: Bonus Room, Kitchen, Primary Bathroom, Primary Bedroom
      Heating
      • Central
      Cooling
      • Central Air
      Appliances
      • Included: Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer
      • Laundry: Washer Hookup, Laundry Closet
      Features
      • Balcony, Ceiling Fan(s), Storage
      • Flooring: Carpet, Vinyl
      • Doors: Sliding Doors
      • Windows: Blinds, Double Pane Windows, Screens
      • Has fireplace: No
      • Fireplace features: None
      • Common walls with other units/homes: No Common Walls
      Interior area
      • Total structure area: 7,524
      • Total interior livable area: 7,524 sqft

      Property

      Parking
      • Total spaces: 10
      • Parking features: Assigned, Concrete, Carport, Driveway, On Site, Off Street
      • Carport spaces: 10
      Features
      • Levels: Two
      • Stories: 2
      • Entry location: 1
      • Pool features: None
      • Spa features: None
      • Fencing: Partial,Wood
      • Has view: Yes
      • View description: City Lights, Hills, Mountain(s), Neighborhood
      Lot
      • Size: 8,100 Square Feet
      • Features: Near Park, Rectangular Lot, Street Level
      Details
      • Parcel number: 052032047
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Contemporary
      • Property subtype: Multi Family
      Materials
      • Stucco
      • Foundation: Combination, Raised, Slab
      • Roof: Composition
      Condition
      • Turnkey
      • New construction: No
      • Year built: 2018

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

      Community & HOA

      Community
      • Features: Biking, Curbs, Golf, Hiking, Storm Drain(s), Street Lights, Sidewalks, Park
      • Security: Carbon Monoxide Detector(s), Fire Sprinkler System, Smoke Detector(s)
      • Subdivision: San Luis Obispo(380)
      Location
      • Region: San Luis Obispo

      Financial & listing details

      • Price per square foot: $545/sqft
      • Date on market: 7/6/2026
      • Cumulative days on market: 12 days
      • Listing terms: Cash,Conventional,1031 Exchange
      • Total actual rent: 24775
      • Tenant pays: Electricity, Gas, Sewer, Water
      • Road surface type: Paved

        Estimated market value

        $3,876,000

        $3.68M - $4.07M

        $3,295/mo

        Price history

        DateEventPrice
        7/6/2026Listed for sale$4,100,000$545/sqft
        Source: CRMLS #SC26142002 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 93405

        Getting around

        75 / 100
        Very Walkable
        33 / 100
        Some Transit
        84 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating

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