Detached Duplex with Off-Street
3204 Rockview Pl San Luis Obispo, CA 93401
3204 Rockview Pl, San Luis Obispo, CA, 93401
$1,485,000
For Sale
$1,485,000
Two separate detached homes on an R2-zoned lot with four off-street parking spaces, both currently tenant-occupied.
Property Size2,388 SF
Lot Size0.20 Acres
Price / SF$621.86
Days on Market93
Property Features for 3204 Rockview Pl
General Information
- Standard status
- Active
- Size
- 2,388 SF
- Lot size
- 0.20 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1957
Listing agency
(805) 544-9161
Listed by
Kurtis Wurster · License #01931796
(805) 544-9161
Source
Elliman
Added: Apr 21 Updated: Jul 22 at 10:08AM Checked: Jul 22 at 10:08AM
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 Kurtis Wurster
Investment Insights
Based on property information with market context.
The property consists of two separate detached homes on an R2-zoned lot. The front home features a multi-level layout with four bedrooms and two bathrooms, with an additional bonus room in the lower level that may offer flexibility for conversion. The kitchen overlooks the living room, and a sliding glass door leads to the back porch. Laundry is located beneath the back porch, with additional storage and a front lawn with a covered front porch.
The back home was added in 2000 and is a two-story, one-bedroom, 1.5-bath layout with a half bath on the main level. The main level includes a kitchen opening to the living room, laundry hookups, and a sliding glass door to a concrete patio overlooking a seasonal creek. The upstairs includes the bedroom, a full bathroom, and an additional living area with potential to be converted into a second bedroom, subject to City requirements.
Both homes are fully landscaped and currently tenant-occupied. The property provides four off-street parking spaces, with convenient access to Broad Street and downtown San Luis Obispo. The neighboring property at 3202 Rockview Place is also available for sale.
The back home was added in 2000 and is a two-story, one-bedroom, 1.5-bath layout with a half bath on the main level. The main level includes a kitchen opening to the living room, laundry hookups, and a sliding glass door to a concrete patio overlooking a seasonal creek. The upstairs includes the bedroom, a full bathroom, and an additional living area with potential to be converted into a second bedroom, subject to City requirements.
Both homes are fully landscaped and currently tenant-occupied. The property provides four off-street parking spaces, with convenient access to Broad Street and downtown San Luis Obispo. The neighboring property at 3202 Rockview Place is also available for sale.
Key Highlights
- Two separate detached homes on one R2‑zoned lot totaling 8,680 sq ft (Year built 1957).
- Front home: 1,318 sq ft with 4 bedrooms, 2 bathrooms, and a bonus room with potential conversion to a 5th bedroom.
- Back home: 1,070 sq ft added in 2000 with 1 bedroom and 1.5 bathrooms, plus potential for a second bedroom.
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 | $73.1k | $30.60 |
| − Vacancy | −$1.7k | −$0.73 |
| EGI | $71.3k | $29.87 |
| − OpEx | −$21.4k | −$8.96 |
| NOI | $49.9k | $20.91 |
2,388 SF · lease $30.60/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$713.3K
$624.2K – $832.2K
NOI $49,934 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$658.6K
$576.3K – $768.3K
NOI $46,100 @ 7.0% cap · market cap 3.10%
Theoretical Best
Healthcare Medical
$939.2K
$821.8K – $1.10M
NOI $65,741 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate detached homes on an R2-zoned lot with four off-street parking spaces, both currently tenant-occupied.
Where is this duplex located?
The property is located at 3204 Rockview Pl San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: Two separate detached homes on one R2‑zoned lot totaling 8,680 sq ft (Year built 1957).; Front home: 1,318 sq ft with 4 bedrooms, 2 bathrooms, and a bonus room with potential conversion to a 5th bedroom.; Back home: 1,070 sq ft added in 2000 with 1 bedroom and 1.5 bathrooms, plus potential for a second bedroom.
