San Luis Obispo, CA Multifamily Properties for Sale

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Updated: Apr 27

Mixed-Use Development Site

1390 Walker St, San Luis Obispo, CA 93401

$4,600,000

1,420 sqft 1.10 AC lot

1.1‑acre infill site in Downtown San Luis Obispo combining three adjacent Commercial Service‑zoned lots
City‑approved entitlements for a 4‑story, 49‑unit residential apartment/condo project with on‑site parking
Existing 1,420 SF commercial building plus approved 770 SF addition
Residential and commercial components can be purchased together or separately
WalkScore 84 (very walkable) and bikeScore 81 (very bikeable)

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Updated: Jul 19

Updated Three-Bedroom Mobile Home

240-3860 Higuera St, San Luis Obispo, CA 93401

$275,000

1,344 sqft

Updated 3‑bedroom, 2‑bath home in Silver City Mobile Lodge Park
Corner lot for added privacy and extra outdoor space
Kitchen with granite countertops, stainless steel appliances, and built‑in gas cooktop
Open concept layout with updated flooring and recessed lighting
Expansive covered porch plus private patio and yard

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Move-In Ready Mobile Home

54-3960 S Higuera St, San Luis Obispo, CA 93401

$215,000

800 sqft

Move-in ready 1973 mobile home with 2 bedrooms, 1 bath, dual-pane windows, and fenced yard in an all-age park.

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See what stands out in San Luis Obispo County

We check every for-sale listing in the county against comparable properties across the country. Most price about where you would expect. A few are worth a second look.

We check every listing here. A few are worth a second look.

Cap Rate available after sign in

NOI available after sign in

Local Demand available after sign in

Manufactured Home in Mobile Park

50b-1121 Orcutt Rd, San Luis Obispo, CA 93401

$399,000

1,020 sqft

Move-in ready manufactured home with 2 bedrooms, 2 bathrooms, and a covered carport in an all-age, pet-friendly community.

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Brand-New 2BR Residential Home

A76-145 South St, San Luis Obispo, CA 93401

$129,950

520 sqft

Brand-new 2-bedroom, 1-bath home with monthly space rent of $895 per month.

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Fourplex with Eight Parking Spaces

1470 Madonna Rd, San Luis Obispo, CA 93405

$1,679,000

5,023 sqft

Well-maintained fourplex consists of two duplexes with eight unassigned parking spaces and a shared community laundry facility.

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Brand New 2BR/2BA Manufactured Home

B27-1255 Orcutt Rd, San Luis Obispo, CA 93401

$154,950

560 sqft

New 2026 Champion single-wide offers 2 bedrooms, 2 bathrooms, stainless steel appliances, and indoor laundry hookups.

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Three-Unit Residential Income Property

523 Branch St, San Luis Obispo, CA 93401

$1,395,000

0.21 AC lot

Three separate residences on a street-to-street lot, offering flexible living and rental layout with off-street parking.

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Detached Duplex With Two Homes

3202 Rockview Pl, San Luis Obispo, CA 93401

$1,425,000

0.20 AC lot

Two detached residences offer separate layouts, private outdoor areas, and dedicated parking within one multifamily property.

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Historic Victorian Residence in San Luis Obispo

687 Islay Street, San Luis Obispo, CA 93401

$2,600,000

20,735 sqft 0.50 AC lot

Iconic Victorian residence with income potential in downtown San Luis Obispo.

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2019 Manufactured Home Corner Lot

A44-145 South St, San Luis Obispo, CA 93401

$169,000

572 sqft

2019 two-bedroom, one-bath manufactured home with open kitchen, laminate flooring, and yards plus two parking spaces.

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Brand New Park Model Home

A79-145 South Street, San Luis Obispo, CA 93401

$99,950

363 sqft

Brand new 2-bedroom, 1-bath park model home under H&S 18009.3, with $895/month space rent.

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Renovated 4-Unit Multifamily Property

1130 Leff Street, San Luis Obispo, CA 93401

$2,400,000

Four updated residences across two buildings with shared laundry and off-street parking near downtown San Luis Obispo.

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Multi-Unit Apartment Building with Yards

35 Blarney, San Luis Obispo, CA 93405

$2,725,000

For sale multi-unit apartment with seven long-term rentals, many featuring private fenced yards.

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8-Unit Multifamily with Private Patios

3380 Bullock Ln, San Luis Obispo, CA 93401

$3,075,000

Eight-unit multifamily offering private patios, updated kitchens with stainless-steel appliances, and on-site coin-operated laundry.

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12-Unit Apartment Building

505 Brizzolara St, San Luis Obispo, CA 93401

$4,375,000

Private parking, on-site laundry, and a shared patio serve a centrally located multifamily property.

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Historic Two-Unit Craftsman Property

1160 Buchon ST, San Luis Obispo, CA 93401

$1,350,000

Two separate residences combine period details, flexible occupancy, and a detached barn within San Luis Obispo’s Historic District.

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104-Unit Apartment Portfolio

607 Grand Ave, San Luis Obispo, CA 93401

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Three properties are adjacent to California Polytechnic State University in San Luis Obispo.

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Refreshed Four-Unit Quadplex

124-128 Stenner, San Luis Obispo, CA 93405

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Four-unit residential income property near Cal Poly with refreshed interiors, private decks, and off-street parking.

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Dual-Residence Duplex with ADU

667-671 Howard Street, San Luis Obispo, CA 93401

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Rebuilt duplex with a 3-bed, 2-bath main home and fully detached 1-bed, 1-bath ADU.

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Mobile Home & RV Park

2994 South Higuera Street, San Luis Obispo, CA 93401

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Remodeled residential units complement a park with city water and sewer service.

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Land

3143/3215 Rockview Pl, San Luis Obispo, CA 93401

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Residential land & home lots

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Based on your search, we've compiled Potential Opportunities for your consideration. Besides 22 Active Listings in San Luis Obispo, CA, we suggest to view alternatives - similar 50 Off-Market properties to explore as potential leads.

Off-Market Properties in San Luis Obispo, CA

Consider similar Off-Market properties in San Luis Obispo, CA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

APARTMENT HOUSE (5+ UNITS)

1771 Johnson Ave, San Luis Obispo, CA 93401

Value Estimation by Request

1,903 sqft 0.32 AC lot

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APARTMENT HOUSE (5+ UNITS)

279 Br St, San Luis Obispo, CA 93401-5026

$480,000

Estimated value

6,142 sqft 0.46 AC lot

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San Luis Obispo, CA Multifamily Properties Market Trends and Statistics

Explore 72 multifamily properties for sale in San Luis Obispo, CA, showcased through 22 active listings on our real estate platform. These investment opportunities span a total of 32,357 square feet of properties for sale, with an estimated market value of $27,066,850.

Sale prices for multifamily properties in San Luis Obispo, CA start at $99,950, averaging $1,592,167, and reaching up to $4,600,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 79K

Population Growth (5Y) -12.3%

Median Household Income $82,388

College Educated 27.6%

High-Yield Neighborhoods for Investment

Identify San Luis Obispo submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
93401	$1.6M
93405	$2.2M

Taxes & Financing

Tax Rate (average for all types) 1.14%

Property Tax per SF $13.51 per SF

Tax Rate vs County Average 0.01 pp below county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in San Luis Obispo County

New Delisted

Total CRE Inventory on Market (SF)

Property Size Breakdown

The majority of commercial real estate listings in San Luis Obispo fall within the 10,000 to 25,000 square foot range.

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