Mixed-Use Property with Residential
For Sale
$2,495,000
452 Higuera Street, San Luis Obispo, CA 93401
Four existing homes include three three-bedroom units and one one-bedroom unit.
Property Size4,266 SF
Price / SF$584.86
Days on Market139
Property Features for 452 Higuera Street
General Information
Standard status
Active
Size
4,266 SF
Property subtype
Mixed Use
Building Details
Building Size
4,266 SF
Year Built
1901
Listing Agency:
Eighty20 Group
(818) 961-6508
Listed By:
Farid Shahid · License #02025653
(805) 457-5781
Source:
Stableproperties
Added: Jun 16
Changed: Oct 31
Last Checked: Oct 31 at 2:18PM
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 Eighty20 Group
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Investment Insights
Based on property information with market context.
The property contains four residential units: three homes with three bedrooms and one bath each, plus a one-bedroom, one-bath home. It spans two adjacent APNs and carries CR Retail Commercial zoning, with density of up to 36 units per acre. The listed year built is 1901.
A completed feasibility study outlines two development concepts: 11 for-sale townhomes or a 20-unit condominium or apartment project. The site is creekside in downtown San Luis Obispo, among shops, offices, and restaurants.
A completed feasibility study outlines two development concepts: 11 for-sale townhomes or a 20-unit condominium or apartment project. The site is creekside in downtown San Luis Obispo, among shops, offices, and restaurants.
Key Highlights
- Four residential units: three 3‑bedroom/1‑bath homes and one 1‑bedroom/1‑bath home
- Two adjacent APNs in downtown San Luis Obispo
- CR Retail Commercial zoning with density up to 36 units per acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,355
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,647,100
$1.6M
Cap Rate 7%
$1,176,500
$1.2M
Cap Rate 9%
$915,056
$915.1K
Market Conditions
NOI Build-Up for 4,266 SF
Gross rent
$153.6K $36.00/SF
− Vacancy
−$3.8K −$0.90/SF
EGI
$149.7K $35.10/SF
− OpEx
−$67.4K −$15.80/SF
NOI
$82.4K $19.31/SF
Area
San Luis Obispo County, CA
Vacancy
2.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,647,100
Cap Rate 7%
$1,176,500
Cap Rate 9%
$915,056
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,355 @ 7.0% cap · market cap 3.30%
Second Best
Mixed Use
$694.7K
$607.9K – $810.5K
NOI $48,632 @ 7.0% cap · market cap 1.95%
Theoretical Best
Healthcare Medical
$1.68M
$1.47M – $1.96M
NOI $117,443 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,617
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four existing homes include three three-bedroom units and one one-bedroom unit.
Where is this mixed-use property located?
The property is located at 452 Higuera Street San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Four residential units: three 3‑bedroom/1‑bath homes and one 1‑bedroom/1‑bath home; Two adjacent APNs in downtown San Luis Obispo; CR Retail Commercial zoning with density up to 36 units per acre
