Two-Story
For Sale
$1,679,000
1470 Madonna Road San Luis, San Luis Obispo, CA 93405
Four residential units feature upstairs bedrooms, private garage parking, shared laundry, and additional unassigned spaces.
Property Size5,023 SF
Lot Size0.23 Acres
Price / SF$334.26
Days on Market69
Property Features for 1470 Madonna Road San Luis
General Information
Standard status
Active
Size
5,023 SF
Total Parking Spaces
8
Lot size
0.23 Acres
Property subtype
Quadruplex
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Units
Unit Mix
1 x 3BR/2BA, 3 x 2BR/2BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
shared community laundry facility
Building Details
Year Built
1972
Stories
2
Listing Agency:
Christie's International Real Estate Sereno
Listed By:
Rob Rose · License #02035157
(805) 476-0104
Source:
Kw
Added: Jul 5
Changed: Sep 10
Last Checked: Sep 9 at 8:46PM
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 Christie's International Real Estate Sereno
Investment Insights
Based on property information with market context.
This quadplex, legally described as two duplexes, contains approximately 5,023 sq ft of living space on a 9,823 sq ft lot. The unit mix includes one 3-bedroom, 2-bath residence with a private 1-car garage and three 2-bedroom, 2-bath residences. Each home uses a two-story layout, with living areas on the main level and bedrooms above. The property was built in 1972 and includes a shared community laundry facility plus eight unassigned parking spaces.
Located at 1470 Madonna Road in San Luis Obispo, the property is near shopping, schools, hiking and biking trails, public transportation, and major commuter routes. Several units offer potential cosmetic updates such as flooring and interior paint, providing a defined renovation component for a new owner.
Located at 1470 Madonna Road in San Luis Obispo, the property is near shopping, schools, hiking and biking trails, public transportation, and major commuter routes. Several units offer potential cosmetic updates such as flooring and interior paint, providing a defined renovation component for a new owner.
Key Highlights
- Four‑unit property legally described as two duplexes
- Approximately 5,023 sq ft of living space on a 9,823 sq ft lot
- Unit mix includes one 3‑bedroom, 2‑bath unit and three 2‑bedroom, 2‑bath units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,032
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,100,640
$2.1M
Cap Rate 7%
$1,500,457
$1.5M
Cap Rate 9%
$1,167,022
$1.2M
Market Conditions
NOI Build-Up for 5,023 SF
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.
Gross rent
$153.7K $30.60/SF
− Vacancy
−$3.7K −$0.73/SF
EGI
$150.0K $29.87/SF
− OpEx
−$45.0K −$8.96/SF
NOI
$105.0K $20.91/SF
Area
San Luis Obispo County, CA
Vacancy
2.38%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,100,640
Cap Rate 7%
$1,500,457
Cap Rate 9%
$1,167,022
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 authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 93405, CA
23,331
Population
9,687
Households
2.4
Avg Household Size
28
Median Age
52%
College-Educated
95%
High-School Grad
89.7 sq mi
ZIP Area
260
Density / Sq Mi
$52,481
Median Household Income
$12,402
Median Earnings
$1,936
Median Rent
$897,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature upstairs bedrooms, private garage parking, shared laundry, and additional unassigned spaces.
Where is this quadplex located?
The property is located at 1470 Madonna Road San Luis 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: Four‑unit property legally described as two duplexes; Approximately 5,023 sq ft of living space on a 9,823 sq ft lot; Unit mix includes one 3‑bedroom, 2‑bath unit and three 2‑bedroom, 2‑bath units
