Spanish-Style Triplex Near
347 Branch Street, San Luis Obispo, CA 93401
For Sale
$1,450,000
Pending
San Luis Obispo, CA
Property Size2,612 SF
Lot Size0.24 Acres
Days on Market55
Property Features for 347 Branch Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Patio and Porch features
Appliances
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Architectural style
Buildings
Listing Agency:
California Coastal Real Estate
(805) 459-1865
Listed By:
Graham Updegrove · License CA #01873454
(805) 458-5506
Added: Sep 16
Changed: Nov 6
Last Checked: Nov 9 at 9:06PM
MLS# SC26196124
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This R-2-zoned triplex combines a 3-bedroom, 1.5-bath front residence with a rear, single-story duplex. The main home was built in 1929 and contains approximately 1,460 square feet, with a kitchen, indoor laundry, wood, tile, and vinyl flooring, plus Spanish architectural detailing. The duplex dates to 1942 and provides approximately 1,152 square feet across two 1-bedroom, 1-bath units. Each rear unit has a private yard, washer and dryer hookups, and shed access. Unit C is leased, while Units A and B are available for immediate move-in.
The property occupies 0.2392 acres at 347 Branch Street in San Luis Obispo, near downtown, freeway access, shopping, dining, and commercial services. Separate gas and electric meters serve each unit, with two public water meters—one for the front residence and one for the duplex. Additional features include a fenced front yard, mature landscaping, a patio, driveway parking, public sewer, and a composition roof.
The property occupies 0.2392 acres at 347 Branch Street in San Luis Obispo, near downtown, freeway access, shopping, dining, and commercial services. Separate gas and electric meters serve each unit, with two public water meters—one for the front residence and one for the duplex. Additional features include a fenced front yard, mature landscaping, a patio, driveway parking, public sewer, and a composition roof.
Key Highlights
- Three‑unit configuration with a 3‑bedroom front residence and rear 2‑unit duplex
- Approximately 2,612 square feet of combined living space on 0.2392 acres
- Front residence built in 1929; rear duplex built in 1942
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,617
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,092,340
$1.1M
Cap Rate 7%
$780,243
$780.2K
Cap Rate 9%
$606,856
$606.9K
Market Conditions
NOI Build-Up for 2,612 SF
Gross rent
$79.9K $30.60/SF
− Vacancy
−$1.9K −$0.73/SF
EGI
$78.0K $29.87/SF
− OpEx
−$23.4K −$8.96/SF
NOI
$54.6K $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 Rate 5%
$1,092,340
Cap Rate 7%
$780,243
Cap Rate 9%
$606,856
Alternative Uses
Best Use
Multifamily LT 5
$780.2K
$682.7K – $910.3K
NOI $54,617 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$720.4K
$630.3K – $840.4K
NOI $50,425 @ 7.0% cap · market cap 3.48%
Theoretical Best
Healthcare Medical
$1.03M
$898.9K – $1.20M
NOI $71,908 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,458
Businesses Nearby
Explore this area
Business Placement
Demographics for 93401, CA
29,877
Population
14,363
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
64.2 sq mi
ZIP Area
465
Density / Sq Mi
$95,386
Median Household Income
$47,898
Median Earnings
$1,859
Median Rent
$943,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a front residence, rear duplex, private yards, and separate utility metering.
Where is this triplex located?
The property is located at 347 Branch Street San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Three‑unit configuration with a 3‑bedroom front residence and rear 2‑unit duplex; Approximately 2,612 square feet of combined living space on 0.2392 acres; Front residence built in 1929; rear duplex built in 1942
