204 N Chorro Street, SAN LUIS OBISPO, CA 93405 (MLS# 26-230)

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204 N Chorro Street, SAN LUIS OBISPO, CA 93405

$14,750,000

Property Type: Res Inc Square Footage: 26,672 Lot Size (sq. ft.): 62,350 Status: Active

Current Price: $14,750,000 List Date: 1/22/2026 Last Modified: 2/10/2026

Overview

Description

College Garden Apartments is a 35-unit multifamily community located at 204, 228, 256, and 284 North Chorro Street within San Luis Obispo's established student housing corridor. Situated just 0.8 miles from Cal Poly and easily accessed via Foothill Boulevard, the property offers students a convenient commute in a highly walkable area surrounded by dining, coffee shops, fitness centers, and other off-campus housing. The unit mix includes one- and two-bedroom layouts, featuring 18 standard apartments and 7 two-bedroom bungalow-style units. Approximately 35 private garage spaces, roughly one per tenant, provide rare storage and privacy for student housing. Additional features include on-site laundry and an unused on-site manager space, offering future operational flexibility.

Listing Details MLS# 26-230

Location Info

District: 97 - OUT OF AREA
Street #: 204
Dir: N
Street Name: Chorro
Street Suffix: Street
State: CA
Country: US
Postal Code: 93405
County: San Luis Obispo
Parcel Number: 052-332-023
Cross Street: Boysen Avenue

Contract Info

Price: 14750000
Begin Date: 2026-01-22

Property Information

Number of Units: 35
Year Built: 1953
Main House SqFt: 26672
Apx Lot SqFt: 62350
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

Unit 1

# Units: 25
# Bedrooms: 2
# Baths: Yes
Furnished: N
Rent: 64845
Monthly Total: 64845
# Half Baths: 0

More Information

Unit 2

# Units: 10
# Bedrooms: Yes
# Baths: Yes
Monthly Total: 20580

Parking Info

Total # Garage Spaces: 35

Neighborhood/Schools

Elementary School: Other
Junior High School: Other
High School: Other

Condition

Good: Yes

Proximity

Near Bus: Yes
Near Hospital: Yes
Near Ocean: Yes
Near Park(s): Yes
Near School(s): Yes
Near Shopping: Yes

Laundry

Laundry Room: Yes

Income/Expenses

Total Monthly Income: 85425
Capitalization Rate: 4.18
NOI: 709218

Zoning

R-3: Yes

Terms

Cash: Yes
Conventional: Yes

Listing Type

ER: Yes

Property Features

Condition: Good Proximity: Near Bus; Near Hospital; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: Laundry Room Zoning: R-3 Terms: Cash; Conventional Listing Type: ER

Listing Office: Radius Group Commercial R.E.

Last Updated: February - 10 - 2026

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