Contract Out
9 beds60 baths7,524 sqft

135 Ferrini Rd, San Luis Obispo, CA 93405

Est: $22,869/moGet pre-approved
Multi FamilyProperty Type
0.19 acresLot Size
2018Year Built
$525/sq ftPrice per sq ft
10 carsParking Spaces

Description

Located just minutes from Cal Poly and downtown San Luis Obispo, 135 Ferrini Rd presents a rare opportunity to acquire a 5 unit fully leased, purpose-built student housing investment completed in 2018. The property is currently generating $24,775 in monthly gross income ($297,300 annually) and offers modern construction, efficient floor plans, and strong in-place cash flow. Ideally situated in one of San Luis Obispo's most desirable rental locations, the property provides convenient access to Cal...Located just minutes from Cal Poly and downtown San Luis Obispo, 135 Ferrini Rd presents a rare opportunity to acquire a 5 unit fully leased, purpose-built student housing investment completed in 2018. The property is currently generating $24,775 in monthly gross income ($297,300 annually) and offers modern construction, efficient floor plans, and strong in-place cash flow. Ideally situated in one of San Luis Obispo's most desirable rental locations, the property provides convenient access to Cal Poly, downtown, shopping, restaurants, public transit, nearby parks, and some of the area's most popular outdoor recreation, including the Bishop Peak and Madonna Mountain trail systems. With its excellent location, strong income, and contemporary construction, this turnkey investment is well positioned in one of California's most supply-constrained rental markets.
Listing Agent
  1. Andrew Richardson

    Andrew Richardson

    Listing Agent

    Sotheby’s International Realty

    DRE #01872187

    P: (805) 781-6040

86 days on Market
Last updated: 09/30/2026 06:47 AM • Source: CRMLS, MLS#: SC26142002

Location

Listing Courtesy of Sotheby’s International Realty, Andrew Richardson, DRE #01872187
Add your commute
Payment Calculator

$22,869 per month

30 year fixed, 7.03% Interest

Principal and Interest

$21,087

Property Taxes

$1,782

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.
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Property Information for 135 Ferrini Road

Property Details

  • MLS Type: Residential Income / Res Income 2-4 Units
  • Architectural Style: Contemporary
  • View: Mountain(s), City Lights, Neighborhood, Hills
  • Parking Spaces Total: 10
  • Private Pool: No
  • Cooling Type: Central Air
  • Total Units: 5.0
  • Building Type: Detached
  • Lot Size Source: Assessor
  • Living Area: 7524
  • Assessor Parcel Number: 052032047
  • Property Attached YN: false
  • Common Walls: No Common Walls
  • New Construction: No
  • Average Studio Area Units: Square Feet
  • Average 1 Bed Area Units: Square Feet
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Building Area Total: 7524
  • Building Area Units: Square Feet
  • Stories Total: 3
  • Entry Level: 1
  • Fireplace: No
  • Pool: No
  • Spa: No
  • View: Yes
  • View: Yes
  • Association: No
  • Association Fee: $.00
  • Zoning: Assessor
  • Subdivision Name: San Luis Obispo(380)
  • Subdivision Name Other: San Luis Obispo(380)
  • Senior Community: No
  • Parcel Number: 052032047
  • Area: San Luis Obispo (SLO)
  • Directions: Foothill to Ferrini, property is on your left.

Building Information

  • Building/Complex: 135 Ferrini Rd
  • Stories: 3
  • Year Built: 2018

Rental Info

Rental Info
  • Tenant Pays: Gas, Water, Sewer, Electricity

Income / Expense / Tax Details

Income Details
  • Gross Income: $3,000
  • Gross Scheduled Income: $297,300
  • Gross Operating Income: $104,055
  • Net Operating Income: $193,245
  • Other Income Description: Internet
  • Other Income 1: $3,000
  • Cap Rate: 4.71
Expense Details
  • Operating Expense: $104,055
  • New Taxes Expense: $22,000
  • Gardener Expense: $1,675
  • Insurance Expense: $4,552
  • Professional Management Expense: $13,000
  • Other Expense: $3,232
  • Other Expense Description: Internet
  • Trash Expense: $3,772
  • Total Expenses: $45,000
Tax / Assessment Info
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: C

Community / Development

Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Golf, Biking, Hiking, Street Lights, Storm Drains, Sidewalks, Park
  • Community: San Luis Obispo(380)

Property / Structure Info

Interior Features
  • Appliances: Disposal, Microwave, Refrigerator, Dishwasher
  • Equipment: Dishwasher, Dryer, Dryer Included, In Closet, Microwave, Refrigerator, Washer, Washer Hookup, Washer Included
  • Interior Features: Balcony, Living Room Balcony, Ceiling Fan(s), Storage
  • Room Type: Primary Bedroom, Bonus Room, Kitchen, Primary Bathroom
  • Laundry: Yes
  • Laundry Features: In Closet, Washer Hookup, Washer Included, Dryer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring Type: Vinyl, Carpet
  • Flooring: Vinyl, Carpet
Exterior Features
  • Door Features: Sliding Doors
  • Window Features: Double Pane Windows, Blinds, Screens
  • Security Features: Fire Sprinkler System, Carbon Monoxide Detector(s), Smoke Detector(s)
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Exterior: Stucco
  • Roof: Composition
  • Entry Location: 1
  • Fence: Yes
  • Fence: Partial, Wood
  • Fencing: Wood, Partial
  • Foundation Details: Raised, Combination, Slab
  • Foundation Details: Raised, Combination, Slab
  • Property Condition: Turnkey
  • View Description: City Lights, Hills
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Pool Heat: N/K
  • Spa Features: None
  • Spa Heat: N/K
Land/Lot Info
  • Lot Features: Level with Street, Rectangular Lot, Park Nearby
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Natural Gas Connected, Phone Available, Sewer Connected, Cable Available, Electricity Connected, Water Connected
  • Electric: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned, Carport, Driveway
  • Parking Garage Spaces: 0
  • Carport Spaces: 10
  • Parking Features: Concrete, Assigned, Off Street, On Site, Carport, Driveway
Property / Structure Info
  • Builders Tract Name: San Luis Obispo
  • Builders Tract Code: San Luis Obispo(380)
  • Residential Styles: Res Income 2-4 Units

Unit Information

Unit 1
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 9
  • Unit Type Baths Total: 12
  • Unit Type Furnished: Partially
  • Unit Type Garage Spaces: 10
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $24,775
  • Unit Type Total Rent: $24,775
  • Unit Type Pro Forma: 24775
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 5
  • Rent Controlled: No
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5
  • Number With Dishwasher: 5
  • Number With Range: 5
  • Number With Refrigerator: 5
  • Number With Disposal: 5

Property History for 135 Ferrini Road

DateEvent & SourcePriceAppreciation
Sep 30, 2026

Pending - Continue to Show

SDMLS #SC26142002

—
Sep 30, 2026

Pending - Continue to Show

CLAW #SC26142002MR

—
Sep 30, 2026

Pending - Continue to Show

CRMLS #SC26142002

—
DateEvent & SourcePrice
09/30/2026

Pending - Continue to Show

SDMLS #SC26142002

—
09/30/2026

Pending - Continue to Show

CLAW #SC26142002MR

—
09/30/2026

Pending - Continue to Show

CRMLS #SC26142002

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 135 Ferrini Road

Taxable Value

Land

$704,579

Additions

$1,179,420
Total$1,883,999

Tax Record

2023

$21,379 ($1,782 / month)

Home Facts

Total Finished SqFt

6,604 SqFt

Above Grade Finished SqFt

6,604 SqFt

Stories

1

Lot Size

8,100 SqFt

Style

Multi-Family Res (5+ Units)

Year Built

2018

Zoning

R4

County

SAN LUIS OBISPO

APN

052-032-047

Schools near 135 Ferrini Road

This home is within San Luis Coastal Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Bishop's Peak Elementary School
PublicK to 6

Laguna Middle School
Public7 to 8

San Luis Obispo High School
Public9 to 12

Peep - De'Groot - Prepare School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Sotheby’s International Realty, Andrew Richardson, DRE #01872187

Based on information from one of the following Multiple Listing Services: Santa Barbara MLS and North Santa Barbara County Regional MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS and North Santa Barbara County Regional MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.