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135 Ferrini Rd

San Luis Obispo, CA 93405

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$4,100,000

7,524 sq ft
  |  
0.19 acre

135 Ferrini Rd

San Luis Obispo, CA 93405

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Listed On: 07/06/2026
Status: Active
Listing Number: SC26142002 (CRMLS)

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Contact Info

Advertising Agent:

London Properties, Ltd.
London Properties, Ltd. 559.436.4071 Email Agent
Property Description
Listing Agent: Andrew Richardson, Central Coast Sotheby's International Realty

 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.
Property Sub Type
Apartment
Year Built
2018
Year Built Source
Assessor
Special Listing Conditions
Standard
Stories Total
3
Levels
Two
Number Of Buildings
5
Number Of Units Total
5
Entry Level
1
Price Per Square Foot
$545
Price Per Unit
$820,000
Days On London
0
Cumulative Days On London
0
County Or Parish
San Luis Obispo
New Construction Y/N
No
Property Attached Y/N
No
Rent Control Y/N
No
Cooling Y/N
Yes
Fence Y/N
Yes
Heating Y/N
Yes
Directions
Foothill to Ferrini, property is on your left.
Architectural Style
Contemporary
Room Type
Primary Bedroom, Bonus Room, Kitchen, Primary Bathroom
Heating
Central
Cooling
Central Air
Laundry Y/N
Yes
Laundry Features
In Closet, Washer Hookup, Washer Included, Dryer Included
Roof
Composition
Security Features
Fire Sprinkler System, Carbon Monoxide Detector(s), Smoke Detector(s)
Construction Materials
Stucco
Door Features
Sliding Doors
Window Features
Double Pane Windows, Blinds, Screens
Foundation Details
Raised, Combination, Slab
Property Condition
Turnkey
Appliances Y/N
Yes
Appliances
Disposal, Microwave, Refrigerator, Dishwasher
Interior Features
Balcony, Living Room Balcony, Ceiling Fan(s), Storage
Flooring
Vinyl, Carpet
Common Walls
No Common Walls
Fireplace Y/N
No
Fireplace Features
None
Pool Features
None
Pool Private Y/N
No
Spa Y/N
No
Spa Features
None
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
Number With Refrigerator
5
Number With Range
5
Number With Dishwasher
5
Number With Disposal
5
Number Of Separate Electric Meters
5
Number Of Separate Gas Meters
5
Number Of Separate Water Meters
5
Utilities
Natural Gas Connected, Phone Available, Sewer Connected, Cable Available, Electricity Connected, Water Connected
Water Source
Public
Sewer
Public Sewer
Parking Y/N
Yes
Parking Total
10.00
Parking Features
Concrete, Assigned, Off Street, On Site, Carport, Driveway
Carport Spaces
10.00
Lot Features
Level with Street, Rectangular Lot, Park Nearby
Lot Size Area
8100.0000
Lot Size Units
Square Feet
Elevation Units
Feet
Road Frontage Type
City Street
Road Surface Type
Paved
View Y/N
Yes
View
Mountain(s), City Lights, Neighborhood, Hills
Fencing
Wood, Partial
Common Interest
Condominium
Parcel Number
052032047
Additional Parcels Y/N
No
Subdivision Name
San Luis Obispo(380)
Subdivision Name Other
San Luis Obispo(380)
Community Features
Curbs, Golf, Biking, Hiking, Street Lights, Storm Drains, Sidewalks, Park
Senior Community Y/N
No
Association Y/N
No
Number Of Units Leased
5
Tenant Pays
Gas, Water, Sewer, Electricity
Gross Operating Income
104055.00
Gross Income
3000.00
Operating Expense
104055.00
Total Actual Rent
24775.00
Land Lease Y/N
No
Assessments
Unknown
Insurance Expense
4552.00
Trash Expense
3772.00
Gardener Expense
1675.00
Professional Management Expense
13000.00
New Taxes Expense
22000.00
Other Expense
3232.00
Other Expense Description
Internet
Gross Scheduled Income
297300.00
Gross Income
3000.00
Other Income 1
3000.00
Other Income Description
Internet
Total Expenses
45000.00
Net Operating Income
193245.00
Operating Expense
104055.00
Gross Operating Income
104055.00
Gross Income
3000.00
Net Operating Income
193245.00
Cap Rate
4.71
Tax Lot
C

The data relating to real estate for sale on this web site comes in part from the Internet Data eXchange (IDX) of the Multiple Listing Service. Real estate listings are marked with the IDX logo and detailed information about them includes the name of the listing broker and the name of the listing agent. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Information herein deemed reliable but not guaranteed, representations are approximate, individual verification recommended.

Copyright © 2026  London Properties, Ltd. All rights reserved.

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