Ground-Level 2-Bed Condo in
925 Madonna Road San Luis Obispo, CA 93405
For Sale
$619,000
Pending
MULTI_FAMILY - San Luis Obispo, CA
Property Size949 SF
Lot Size0.02 Acres
Days on Market28
Property Features for 925 Madonna Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
- Standard status
- Pending
- APN
- 053-601-028
- Size
- 949 SF
- Lot size
- 0.02 Acres
Utilities
- Heating system
- Electric (Heating), Solar (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 2023
- Floors in Building
- 1
- Number of units
- 96
- Roof type
- Shingle
Listing Agency:
CHAMPION Real Estate
(805) 349-7777
Listed By:
Carla Ramer
(805) 345-8028
Added: Jun 26
Last Checked: Jul 23 at 5:06PM
MLS# 26000336
Copyright © 2026 North Santa Barbara County Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This nearly new condominium offers single-level living with a ground-level, 2-bedroom and 2-bath layout featuring no interior or exterior stairs. The unit includes French doors opening to a spacious private patio, along with wood laminate and tile flooring, tall ceilings with recessed lighting, solid-surface quartz countertops, and stainless steel appliances. Additional features include air conditioning, fire sprinklers throughout, and an all-electric design. Owned solar is included.
The condo is located just steps from the Orchard clubhouse within the San Luis Ranch community. Community amenities referenced in the listing include a resort-style pool and hot tub, plus bike storage and trash service covered by the HOA.
The property listing information also notes that the community is anchored by SLO Ranch Farms and Marketplace, which is described as offering farm-inspired dining, local shops, gardens, live music, and family-friendly events.
The condo is located just steps from the Orchard clubhouse within the San Luis Ranch community. Community amenities referenced in the listing include a resort-style pool and hot tub, plus bike storage and trash service covered by the HOA.
The property listing information also notes that the community is anchored by SLO Ranch Farms and Marketplace, which is described as offering farm-inspired dining, local shops, gardens, live music, and family-friendly events.
Key Highlights
- Nearly new 2‑bed, 2‑bath ground‑level condominium with no interior or exterior stairs
- Built in 2023 with all‑electric design, central air conditioning, recessed lighting, and fire sprinklers throughout
- Quartz countertops with stainless steel appliances; wood laminate and tile flooring
Financial Insights For Apartment 5plus
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 | $34.2k | $36.00 |
| − Vacancy | −$854 | −$0.90 |
| EGI | $33.3k | $35.10 |
| − OpEx | −$15.0k | −$15.80 |
| NOI | $18.3k | $19.31 |
949 SF · lease $36.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,320 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$373.2K
$326.6K – $435.4K
NOI $26,126 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Nearly new ground-level 2-bed, 2-bath condo with private patio and no interior or exterior stairs.
Where is this apartment building located?
The property is located at 925 Madonna Road San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Nearly new 2‑bed, 2‑bath ground‑level condominium with no interior or exterior stairs; Built in 2023 with all‑electric design, central air conditioning, recessed lighting, and fire sprinklers throughout; Quartz countertops with stainless steel appliances; wood laminate and tile flooring
