Fourplex with Eight Parking
1470 Madonna Rd San Luis Obispo, CA 93405
1470 Madonna Rd, San Luis Obispo, CA, 93405
$1,679,000
For Sale
$1,679,000
Well-maintained fourplex consists of two duplexes with eight unassigned parking spaces and a shared community laundry facility.
Property Size5,023 SF
Price / SF$334.26
Days on Market18
Property Features for 1470 Madonna Rd
General Information
- Standard status
- Active
- Size
- 5,023 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1972
Listing agency
Sereno
(805) 550-1015
Listed by
Colleen Clarke · License #02035157
(805) 550-1015
Source
Elliman
Added: Jul 4 Updated: Jul 20 at 7:00PM Checked: Jul 20 at 7:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sereno
Investment Insights
Based on property information with market context.
This for-sale fourplex, legally described as two duplexes, offers a residential income configuration with all units laid out as two-story floor plans. Living areas are located on the main level with bedrooms upstairs. The unit mix includes one 3-bedroom, 2-bath unit with a private 1-car garage, along with three 2-bedroom, 2-bath units.
The property includes eight unassigned parking spaces and a shared community laundry facility. It is described as well maintained, with opportunities for cosmetic updates such as flooring and interior paint in many units.
Set on a 9,823 sq ft lot, the building totals approximately 5,023 sq ft of living space. The location is described as near shopping, schools, public transportation, hiking and biking trails, and major commuter routes, with walk and transit scores provided in the listing remarks.
The property includes eight unassigned parking spaces and a shared community laundry facility. It is described as well maintained, with opportunities for cosmetic updates such as flooring and interior paint in many units.
Set on a 9,823 sq ft lot, the building totals approximately 5,023 sq ft of living space. The location is described as near shopping, schools, public transportation, hiking and biking trails, and major commuter routes, with walk and transit scores provided in the listing remarks.
Key Highlights
- 1972‑built well‑maintained fourplex (legally two duplexes) with approx. 5,023 sq ft on a 9,823 sq ft lot
- Unit mix includes one 3 bed/2 bath unit with a private 1‑car garage and three 2 bed/2 bath units
- Two‑story floor plans with living areas on the main level and bedrooms upstairs across the units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.7k | $30.60 |
| − Vacancy | −$3.7k | −$0.73 |
| EGI | $150.0k | $29.87 |
| − OpEx | −$45.0k | −$8.96 |
| NOI | $105.0k | $20.91 |
5,023 SF · lease $30.60/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,032 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $96,969 @ 7.0% cap · market cap 5.78%
Theoretical Best
Healthcare Medical
$1.98M
$1.73M – $2.30M
NOI $138,283 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Well-maintained fourplex consists of two duplexes with eight unassigned parking spaces and a shared community laundry facility.
Where is this quadplex located?
The property is located at 1470 Madonna Rd San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,679,000.
What are key features of this property?
This property features: 1972‑built well‑maintained fourplex (legally two duplexes) with approx. 5,023 sq ft on a 9,823 sq ft lot; Unit mix includes one 3 bed/2 bath unit with a private 1‑car garage and three 2 bed/2 bath units; Two‑story floor plans with living areas on the main level and bedrooms upstairs across the units
