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
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.
More Information MLS# 26-232
Location Info
Country: US
Cross Street: Couper Drive
District: 97 - OUT OF AREA
Street #: 555
Street Name: Westmont
Street Suffix: Avenue
State: CA
Postal Code: 93405
County: San Luis Obispo
Parcel Number: 052-502-018
Property Information
Year Built: 1962
Recurring Fees: No
Number of Units: 49
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: 5
# Bedrooms: 3
# Baths: 2
# Half Baths: 0
Furnished: N
Rent: 21000
Monthly Total: 21000
Income/Expenses
Gross Rent Multiplr: 13.87
Capitalization Rate: 4.87
NOI: 936716
Unit 2
# Units: 18
# Bedrooms: 2
# Baths: 1
Rent: 43935
Zoning
R-3: 1
Terms
Cash: 1
Conventional: 1
Listing Type
ER: 1
Unit 3
# Units: 26
# Bedrooms: 1
# Baths: 1
Rent: 50700
Parking Info
Total # Carport Spaces: 16
Total # Unconvered Spaces: 57
Contract Info
Current Price: $19,250,000
Price: 19250000
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.
Last Updated: February - 10 - 2026
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