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    San Luis Obispo Triplex Investment Title is generated by Realmo AI

    1420 Johnson Avenue 1428, San Luis Obispo, CA 93401

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    For Sale
    $1,375,000

    Cottage, Triplex - San Luis Obispo, CA

    Type:Triplex
    Property size:
    2,380 SF
    Lot size:
    7,250.00 Acres
    Price / SF:
    $577/SF
    Added:
    May 27, 2026
    Days on Market:
    5
    Last Refresh:
    May 31 at 9:06 pm

    Property Features for 1420 Johnson Avenue 1428

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Family Room, Kitchen, Laundry
    Parking
    8
    Parking features
    Driveway, Garage
    Interior features
    Ceiling Fan(s), Storage, None
    Exterior features
    Community Features Included: Curbs, Sidewalks, 0-1 Unit/Acre, Front Yard
    Appliances
    Dishwasher, Range, Range - Gas, Refrigerator, Washer
    Standard status
    Active
    APN
    002454007
    Size
    2,380 SF
    Lot size
    7,250.00 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1925
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Carpet, Laminate, Wood
    Building materials
    HardiPlank Type, Stucco
    Roof type
    Composition
    Architectural style
    Cottage

    We can help!

    Listing Contact
    Aimee Edsall

    Listing agent Aimee Edsall License #01753340

    Listing office Central Coast Sotheby's International Realty 711 Tank Farm Rd, San Luis Obispo, CA

    Listing date May 27, 2026

    MLS# SC26110371 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime San Luis Obispo location, minutes from downtown.
    • Versatile investment opportunity with three well‑maintained residential units on one property.
    • Flexible ownership options: rental income, multi‑generational living, or single family use.
    • Detached rear residence (built 2005) with 3‑car garage, open‑concept floor plan, private balcony, and separate utilities.
    • Charming 1925 front bungalow with 2 bedrooms, 1 bath, and private yard.
    • Tastefully updated studio unit with private entrance and newer dual‑pane windows.

    Overview

    Located in San Luis Obispo, minutes from downtown, the property at 1420 & 1428 Johnson Avenue features three residential units. The property is suitable for flexible ownership, rental income, or multi-generational living. The front bungalow at 1420 Johnson, built in 1925, has approximately 800 square feet, two bedrooms, one bathroom, a living room, an eat-in kitchen, and a private front yard. The attached studio unit, added on in 1943 and approximately 400 square feet, has been updated and features a private rear entrance, newer dual-pane replacement windows, an updated kitchen, a 3/4 bathroom, a living area, and a built-in closet organization system. The bungalow and studio share laundry facilities and utilities. Built in 2005, the detached rear residence at 1428 Johnson Avenue is approximately 1,000 square feet and operates independently with separate utilities. Positioned above an expansive 3-car garage, this upstairs home offers an open-concept floor plan with the kitchen and living room flowing together, a primary bedroom, a full bathroom, and a private balcony. Separate laundry is located within the garage. The property includes 5+ onsite parking spaces. The lot size is approximately 0.166 acres. The total property size is approximately 2,380 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.6538367
    Latitude
    35.2812283

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    FAQs

    What type of property is this?
    Triplex - Three residential units on one property near downtown.
    Where is this triplex located?
    The property is located at 1420 Johnson Avenue 1428 San Luis Obispo, CA.
    What is the asking price?
    The asking price for this property is $1,375,000.
    What are key features of this property?
    This property features: Prime San Luis Obispo location, minutes from downtown.; Versatile investment opportunity with three well‑maintained residential units on one property.; Flexible ownership options: rental income, multi‑generational living, or single family use.
    (805) 458-5560
    We can help!
    Listing Contact
    Aimee Edsall
    Real Estate License ID: 01753340
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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