Located just minutes from Cal Poly and downtown San Luis Obispo, 135 Ferrini Rd presents a rare opportunity to acquire a 5 unit fully leased, purpose-built student housing investment completed in 2018. The property is currently generating $24,775 in monthly gross income ($297,300 annually) and offers modern construction, efficient floor plans, and strong in-place cash flow. Ideally situated in one of San Luis Obispo’s most desirable rental locations, the property provides convenient access to Cal Poly, downtown, shopping, restaurants, public transit, nearby parks, and some of the area’s most popular outdoor recreation, including the Bishop Peak and Madonna Mountain trail systems. With its excellent location, strong income, and contemporary construction, this turnkey investment is well positioned in one of California’s most supply-constrained rental markets.
Property Details
Price:
$3,950,000
MLS #:
SC26142002
Status:
Active Under Contract
Beds:
0
Baths:
0
Type:
Multi Family
Subtype:
Apartment
Subdivision:
San Luis Obispo380
Neighborhood:
slosanluisobispo
Listed Date:
Jul 6, 2026
Total Sq Ft:
7,524
Lot Size:
8,100 sqft / 0.19 acres (approx)
Year Built:
2018
Units:
5
See this Listing
Schools
Interior
Appliances
Disposal, Microwave, Refrigerator, Dishwasher
Cooling
Central Air
Flooring
Vinyl, Carpet
Heating
Central
Interior Features
Balcony, Living Room Balcony, Ceiling Fan(s), Storage
Laundry Features
Laundry Closet, Washer Hookup, Washer Included, Dryer Included
Levels
Two
Exterior
Architectural Style
Contemporary
Common Walls
No Common Walls
Community Features
Curbs, Golf, Biking, Hiking, Street Lights, Storm Drains, Sidewalks, Park
Construction Materials
Stucco
Covered Spaces
10
Fencing
Wood, Partial
Lot Features
Level with Street, Rectangular Lot, Park Nearby
Open Parking YN
1
Parking Features
Concrete, Assigned, Off Street, On Site, Carport, Driveway
Parking Spots
10
Parking Total
10
Roof
Composition
Security Features
Fire Sprinkler System, Carbon Monoxide Detector(s), Smoke Detector(s)
Spa Features
None
Stories
3
View
Mountain(s), City Lights, Neighborhood, Hills
Window Features
Double Pane Windows, Blinds, Screens
Financial
Map
Community
- Address135 Ferrini Road San Luis Obispo CA
- SubdivisionSan Luis Obispo(380)
- CitySan Luis Obispo
- CountySan Luis Obispo
- Zip Code93405
Subdivisions in San Luis Obispo
Market Summary
Current real estate data for Multi Family in San Luis Obispo as of Oct 20, 2026
10
Multi Family Listed
85
Avg DOM
$2,559,000
Avg List Price
Property Summary
- Located in the San Luis Obispo(380) subdivision, 135 Ferrini Road San Luis Obispo CA is a Multi Family for sale in San Luis Obispo, CA, 93405. It is listed for $3,950,000 To schedule a showing of MLS#sc26142002 at 135 Ferrini Road in San Luis Obispo, CA, contact your Outland and Associates Real Estate agent at 8054813939.
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Courtesy of Central Coast Sotheby’s International Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. California Regional Multiple Listing Service. All rights reserved.135 Ferrini Road
San Luis Obispo, CA