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3380 Bullock Ln

San Luis Obispo, CA 93401

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$3,195,000

6,971 sq ft
  |  
0.50 acre

3380 Bullock Ln

San Luis Obispo, CA 93401

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Listed On: 11/11/2025
Status: Active
Listing Number: V1-33328 (CRMLS)

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Contact Info


Advertising Agent:

London Properties, Ltd.
London Properties, Ltd. 559.436.4071 Email Agent
Property Description
Listing Agent: Michael Lopus, Colliers International

3380 Bullock Lane presents a rare opportunity to acquire a turn-key, pride of ownership multifamily asset in one of San Luis Obispo's most sought-after rental markets. The 8-unit property has been meticulously maintained and thoughtfullyupgraded, featuring modern interiors with luxury vinyl plank flooring, updated kitchens with stainless-steel appliances, and spacious open-concept living areas with private patios. The building demonstrates strong in-place rents and steady operational performance, offering both secure income and upside potential through continued rent growth in a supply-constrained submarket. Residents enjoy convenient access to Downtown SLO, Cal Poly University, and major employers, with abundant on-site parking and on-site laundry facilities. With a current CAP rate of 4.8% and a market CAP rate approaching 5.2%, this property provides an attractive blend of yield, stability, and long-term appreciation. 3380 Bullock Lane is the ideal acquisition for an investor seeking a well-positioned, low-maintenance asset in a thriving Central Coast market--perfect for 1031 exchange buyers or those looking to expand their portfolio with a high-quality multifamily property in San Luis Obispo. Laundry is on-site coin-operated laundry facilites.
Year Built
1977
Year Built Source
Public Records
Special Listing Conditions
Standard
Stories Total
2
Levels
Two
Number Of Buildings
2
Price Per Square Foot
$458
Days On Market
35
Cumulative Days On Market
35
County Or Parish
San Luis Obispo
Property Attached Y/N
No
Rent Control Y/N
No
Cooling Y/N
No
Fence Y/N
No
Heating Y/N
Yes
Directions
Take CA-227 (Broad Street) headed southeast towards Orcutt Road, then turn onto Bullock Ln.
Room Type
All Bedrooms Up, Primary Bathroom, Kitchen, Living Room
Heating
Wall Furnace
Cooling
None
Laundry Y/N
Yes
Laundry Features
See Remarks
Property Condition
Turnkey
Appliances Y/N
Yes
Appliances
Dishwasher, Free-Standing Range, Refrigerator
Flooring
See Remarks
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
Number Of Separate Electric Meters
8
Number Of Separate Gas Meters
8
Number Of Separate Water Meters
8
Utilities
Cable Available, Water Connected, Sewer Connected, Natural Gas Connected, Electricity Connected
Parking Y/N
Yes
Parking Total
16.00
Lot Features
Sprinklers None
Lot Size Area
21687.0000
Lot Size Units
Square Feet
Road Surface Type
Paved
View Y/N
Yes
Fencing
None
Parcel Number
053071010
Subdivision Name
Not Applicable
Subdivision Name Other
Not Applicable
Community Features
Park
Senior Community Y/N
No
Tenant Pays
Cable TV, Gas, Electricity
Gross Income
232200.00
Operating Expense
75710.00
Land Lease Y/N
No
Assessments
None
Insurance Expense
2769.00
Electric Expense
1393.00
Water Sewer Expense
6960.00
Trash Expense
6421.00
Fuel Expense
1393.00
Gross Scheduled Income
232200.00
Gross Income
232200.00
Total Expenses
75710.00
Net Operating Income
153315.00
Operating Expense
75710.00
Gross Income
232200.00
Net Operating Income
153315.00
Cap Rate
4.80

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.

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