Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,185,000
Apartment buildings
279 Br St San Luis Obispo, CA 93401-5026
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-1380504
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Construction
WOOD
Total area
6,142 SF
Lot
0.46 ac (19,910 SF)
Zoning code
R2
APN
003-724-011
UPID
US09-1380504
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.83M
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$2.19M
Owner & transaction history
Martin Magneson
Martin Magneson
since 2025
Last sale
$2.5M
4 recorded transactions
Zoning & alternative use
R2 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,975,000
6.5%
$1,825,000
7%
$1,695,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,230,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$2.19M
Range $1.97M – $2.40M · ±10% · vs last sale $2.50M (Dec 29 2025)
Last sale anchor
$2.50M
Dec 29 2025
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
$356 / 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
$10,303
Tax year 2024
Assessed value
$932,240
Assessed 2024
Previous assessed
$932,240
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$294,343
Assessed improvement
$637,897
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
NONE
Rooms
11
Bathrooms
10
Total area
6,142 SF
Lot
0.46 ac (19,910 SF)
Zoning code
R2
APN
003-724-011
UPID
US09-1380504
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
R2 · San Luis Obispo, CA
Zoning R2 · permitted uses
R2 · 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
COMMERCIAL (GENERAL)
Est. value
$3.2M
COMMERCIAL (GENERAL)
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
1985
Construction
WOOD
Heating
NONE
Rooms
11
Bathrooms
10
Lot
0.46 ac
Current owner
From public records · entity-resolved
Martin Magneson
Individual
Mailing address
45 LA GAVIOTA, PISMO BEACH, CA 93449-2850
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2025
$2,500,000
Martin Magneson
Mary Goble Kirkpatrick Family Trust
Grant Deed
$800,000 · Sesloc FCU
Dec 29, 2025
—
Martin Magneson
Christiana Magneson
Deed
related
—
Apr 3, 2003
—
Kirkpatrick,tr
Goble,mary W
Grant Deed
related
—
Oct 10, 2001
—
Mary G Kirkpatrick
Kirkptrick,richard C
Quit Claim Deed
related
$425,000 · Pacific Capital Mortgage
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 279 Br 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.
