555 Westmont Avenue, SAN LUIS OBISPO, CA 93405 (MLS# 26-232)

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555 Westmont Avenue, SAN LUIS OBISPO, CA 93405

$19,250,000

Property Type: Res Inc Status: Active

Current Price: $19,250,000 List Date: 1/22/2026 Last Modified: 2/10/2026

Overview

Description

555 Westmont Apartments is a 49-unit community consisting of six residential buildings arranged around two enclosed courtyards, creating a private, campus-style living environment. Located just off the highway, the property offers convenient access to Cal Poly via Highland Drive and strong connectivity to downtown San Luis Obispo. Proximity to both Cal Poly and Cuesta College supports consistent student demand. The unit mix includes 26 one-bedroom/one-bath units, 18 two-bedroom/one-bath units, and 5 three-bedroom/two-bath units. Amenities include ample on-site parking with uncovered and tuck-under spaces and potential future ADU conversion within existing carport areas (buyer to verify). Interior renovations present a clear value-add opportunity through modernization and rent growth.

Listing Details MLS# 26-232

Location Info

District: 97 - OUT OF AREA
Street #: 555
Street Name: Westmont
Street Suffix: Avenue
State: CA
Country: US
Postal Code: 93405
County: San Luis Obispo
Parcel Number: 052-502-018
Cross Street: Couper Drive

Contract Info

Price: 19250000
Begin Date: 2026-01-22

Property Information

Number of Units: 49
Year Built: 1962
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

Unit 1

# Units: 5
# Bedrooms: 3
# Baths: 2
Furnished: N
Rent: 21000
Monthly Total: 21000
# Half Baths: 0

More Information

Unit 2

# Units: 18
# Bedrooms: 2
# Baths: Yes
Rent: 43935

Unit 3

# Units: 26
# Bedrooms: Yes
# Baths: Yes
Rent: 50700

Parking Info

Total # Carport Spaces: 16
Total # Unconvered Spaces: 57

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

Gross Rent Multiplr: 13.87
Capitalization Rate: 4.87
NOI: 936716

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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