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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

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.

More Information MLS# 26-230

Location Info

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

Property Information

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

Neighborhood/Schools

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

Owner Info

Deposit: 3

Remarks

Hot Sheet Comment: new

Condition

Good: 1

Proximity

Near Bus: 1 Near Hospital: 1 Near Ocean: 1 Near Park(s): 1 Near School(s): 1 Near Shopping: 1

Laundry

Laundry Room: 1

Unit 1

# Units: 25 # Bedrooms: 2 # Baths: 1 # Half Baths: 0 Furnished: N Rent: 64845 Monthly Total: 64845

Income/Expenses

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

Unit 2

# Units: 10 # Bedrooms: 1 # Baths: 1 Monthly Total: 20580

Zoning

R-3: 1

Terms

Cash: 1 Conventional: 1

Listing Type

ER: 1

Parking Info

Total # Garage Spaces: 35

Contract Info

Current Price: $14,750,000 Price: 14750000 Begin Date: 2026-01-22 Status: Active

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.
IDX
Last Updated: February - 10 - 2026
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