555 Westmont Ave - Apartments FOR SALE


San Luis Obispo, CA 93405
$19,250,000 USD
805-698-0174
555 Westmont Ave, San Luis Obispo, CA for Sale
$19,250,000 USD
Apartments - FOR SALE
1/16
null | 4.87% Cap Rate

555 Westmont Ave
San Luis Obispo, CA 93405


HIGHLIGHTS

  • 49-unit premier student housing asset strategically located near California Polytechnic State University in San Luis Obispo.
  • Located at the Highland entrance to Cal Poly, and just a short drive to Cuesta College.
  • Rented by the unit.
  • May be purchased as a part of a 3-property portfolio including 607 Grand Apartments and College Gardens Apartments. Contact Listing Agents.

OVERVIEW

555 Westmont Apartments is a 49-unit community comprised of six residential buildings arranged around two enclosed courtyards, creating a private, campus-oriented living environment. The property is located just off the highway, offering a direct and convenient approach to Cal Poly via Highland Drive and strong connectivity to downtown San Luis Obispo. Proximity to both Cal Poly and Cuesta College further broadens the tenant base and supports consistent student demand. The unit mix is well suited for student households, consisting of 26 one-bedroom/one-bath units, 18 two-bedroom/one-bath units, and 5 three-bedroom/two-bath units. The community provides ample on-site parking, including uncovered and tuck-under spaces, with potential upside through a future ADU conversion within the existing carport areas (buyer to verify). Interior renovations present a clear value-add opportunity, allowing a new owner to modernize finishes, increase rents, and enhance long-term cash flow. ALSO AVAILABLE FOR PURCHASE AS A 3-PROPERTY PORTFOLIO. ALL PROPERTIES UNDER SAME OWNERSHIP: COLLEGE GARDEN APARTMENTS & 607 GRAND APARTMENTS.

FOR SALE DETAILS

PRICE

$19,250,000 USD

PRICE/SF

$504 USD /SF

# OF UNITS

49

PRICE/UNIT

$392,857

CAP RATE

4.87%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

555 Westmont Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

73

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,246 SF

ZONING

R-3

APN/PARCEL ID

052-502-016,052-502-018

ASK ABOUT THIS PROPERTY

Steve GolisRadius Commercial Real EstateMore Info
805-698-0174

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Steve GolisRadius Commercial Real EstateMore Info
805-698-0174

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.