Three-Unit Residential Income
For Sale
$1,395,000
523 Branch St, San Luis Obispo, CA 93401
Three separate residences on a street-to-street lot, offering flexible living and rental layout with off-street parking.
Property Size2,816 SF
Lot Size0.21 Acres
Price / SF$495.38
Days on Market143
Property Features for 523 Branch St
General Information
Standard status
Active
Size
2,816 SF
Lot size
0.21 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1910
Listing Agency:
Christie's International Real Estate Sereno
Listed By:
Lindsey Harn · License #01868098
(916) 834-6129
Source:
Livebre
Added: Jun 3
Changed: Oct 7
Last Checked: Oct 7 at 2:03PM
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
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Investment Insights
Based on property information with market context.
This three-unit residential income property features a street-to-street configuration on a spacious 8,980± square foot lot. The front home at 523 Branch Street offers 3 bedrooms and 1 bathroom, with a covered front porch, mature shade trees, and a spacious front yard. Inside, an open-concept living area supports a practical day-to-day flow, and the kitchen includes in-unit laundry.
Behind the main residence, the property includes two additional units at 520 South A & B, both built in 1989. Each unit has an open-concept lower level with a pass-through kitchen window to the living room, and direct access from the dining area to a private yard space. Upstairs, each unit offers a generously sized bedroom, a full bathroom, and a versatile loft area that can function as a home office or additional living space. Off-street parking is available in front of the units.
Located in the heart of San Luis Obispo’s Railroad District, the property is positioned moments from Meadow Park, Hawthorne Park, and Downtown San Luis Obispo. The three separate residences provide a straightforward fit for investors, owner-occupants, or households looking to live in one home while renting the others, supported by private yards and off-street parking.
Behind the main residence, the property includes two additional units at 520 South A & B, both built in 1989. Each unit has an open-concept lower level with a pass-through kitchen window to the living room, and direct access from the dining area to a private yard space. Upstairs, each unit offers a generously sized bedroom, a full bathroom, and a versatile loft area that can function as a home office or additional living space. Off-street parking is available in front of the units.
Located in the heart of San Luis Obispo’s Railroad District, the property is positioned moments from Meadow Park, Hawthorne Park, and Downtown San Luis Obispo. The three separate residences provide a straightforward fit for investors, owner-occupants, or households looking to live in one home while renting the others, supported by private yards and off-street parking.
Key Highlights
- Three separate residences on an 8,980+ SF street‑to‑street lot in San Luis Obispo’s Railroad District
- Front residence (523 Branch St) offers 3 bedrooms, 1 bathroom, plus a covered front porch and in‑unit laundry
- Two additional units (520 South A & B) built in 1989, each with an open‑concept lower level and pass‑through kitchen window
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,883
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,177,660
$1.2M
Cap Rate 7%
$841,186
$841.2K
Cap Rate 9%
$654,256
$654.3K
Market Conditions
NOI Build-Up for 2,816 SF
Gross rent
$86.2K $30.60/SF
− Vacancy
−$2.1K −$0.73/SF
EGI
$84.1K $29.87/SF
− OpEx
−$25.2K −$8.96/SF
NOI
$58.9K $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%
$1,177,660
Cap Rate 7%
$841,186
Cap Rate 9%
$654,256
Alternative Uses
Best Use
Multifamily LT 5
$841.2K
$736.0K – $981.4K
NOI $58,883 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$776.6K
$679.5K – $906.1K
NOI $54,363 @ 7.0% cap · market cap 3.90%
Theoretical Best
Healthcare Medical
$1.11M
$969.1K – $1.29M
NOI $77,524 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,850
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences on a street-to-street lot, offering flexible living and rental layout with off-street parking.
Where is this triplex located?
The property is located at 523 Branch St San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three separate residences on an 8,980+ SF street‑to‑street lot in San Luis Obispo’s Railroad District; Front residence (523 Branch St) offers 3 bedrooms, 1 bathroom, plus a covered front porch and in‑unit laundry; Two additional units (520 South A & B) built in 1989, each with an open‑concept lower level and pass‑through kitchen window
