Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,135,000
Motels
2223 Monterey St San Luis Obispo, CA 93401-0627
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-5557152
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1925
Construction
WOOD
Total area
2,410 SF
Lot
1.02 ac (44,431 SF)
Zoning code
CT
APN
001-075-024
UPID
US09-5557152
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Motel Inn - World's First Motel Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$2.14M
Owner & transaction history
Carousel Investments LLC · 4 yrs held
Carousel Investments LLC
since 2021
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
CT · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs San Luis Obispo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Luis Obispo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,310,000
ML approach
$2,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,325,000
Current use
Blend value · Realmo final
$2.14M
Range $1.92M – $2.35M · ±10% · vs last sale $2.00M (Dec 10 2021)
Last sale anchor
$2.00M
Dec 10 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$886 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$22,996
Tax year 2024
Assessed value
$2,080,800
Assessed 2024
Previous assessed
$2,080,800
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,664,640
Assessed improvement
$416,160
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
Off-Market
Year built
1925
Construction
WOOD
Heating
NONE
Buildings
2
Bathrooms
2
Total area
2,410 SF
Lot
1.02 ac (44,431 SF)
Zoning code
CT
APN
001-075-024
UPID
US09-5557152
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CT · San Luis Obispo, CA
Zoning CT · permitted uses
CT · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Luis Obispo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.3M
HOTEL/MOTEL Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Construction
WOOD
Heating
NONE
Buildings
2
Bathrooms
2
Lot
1.02 ac
Current owner
From public records · entity-resolved
Carousel Investments LLC
Entity
Free & Clear · 4 yrs held
Mailing address
251 CHORRO ST, SAN LUIS OBISPO, CA 93405-2315
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2021
$2,000,000
Carousel Investments LLC
Covelop Holdings LLC
Grant Deed
—
Jul 19, 2019
$1,500,000
Covelop Holdings LLC
Slo Investments LLC
Grant Deed
$2,200,000 · Johan Van Den Berg
Nov 16, 2017
$1,110,000
Century Park LLC
Ruidoso Associates LLC
Grant Deed
related
—
Jul 28, 2016
$1,800,000
Ruidoso Associates LLC
Slo Investments LLC
Grant Deed
related
$900,000 · Whipps Robert E Tr (pt)
Dec 12, 2014
—
Slo Investments LLC
Motel Inn LLC
Grant Deed
related
$1,500,000 · Capital Bk
Dec 17, 2013
$900,000
Ruidoso Associates LLC
Pacific Oak Foreclosure|king,john E & Carole D
Trustees Deed
$833,934 · D&a Scanlin Family Enterprises
Feb 16, 2012
—
Exposition Park LLC
Rossi Robin L Living Trust
Grant Deed
related
—
Apr 28, 2011
—
Motel Inn LLC
United Coml Bk
Grant Deed
related
—
Nov 4, 2010
$1,223,600
United Coml Bk
Fidelity National Title Co
Trustees Deed
related
—
Sep 22, 2006
—
Rossi,robin L Living Trust
Rossi Robin L Living Trust
Quit Claim Deed
related
$4,500,000 · United Com'l Bk
—
—
King,john E & Carole D
—
Deed Of Trust
related
$1,700,000 · Mission Cmnty Bk
—
—
Ruidoso Associates LLC
—
Deed Of Trust
related
$900,000 · Us Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2223 Monterey St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
