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3380 Bullock Lane presents a rare opportunity to acquire a turn-key, pride of ownership multifamily asset in one of San Luis Obispo's most sought-after rental markets. The 8-unit property has been meticulously maintained and thoughtfullyupgraded, featuring modern interiors with luxury vinyl plank flooring, updated kitchens with stainless-steel appliances, and spacious open-concept living areas with private patios. The building demonstrates strong in-place rents and steady operational performance, offering both secure income and upside potential through continued rent growth in a supply-constrained submarket. Residents enjoy convenient access to Downtown SLO, Cal Poly University, and major employers, with abundant on-site parking and on-site laundry facilities. With a current CAP rate of 4.8% and a market CAP rate approaching 5.2%, this property provides an attractive blend of yield, stability, and long-term appreciation. 3380 Bullock Lane is the ideal acquisition for an investor seeking a well-positioned, low-maintenance asset in a thriving Central Coast market--perfect for 1031 exchange buyers or those looking to expand their portfolio with a high-quality multifamily property in San Luis Obispo. Laundry is on-site coin-operated laundry facilites.
Property Type(s):
Residential Income
| Last Updated | 11/11/2025 | Tract | Not Applicable |
|---|---|---|---|
| Year Built | 1977 | Community | SLO - San Luis Obispo |
| County | San Luis Obispo |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Dishwasher, Free-Standing Range, Refrigerator |
| AREA | SLO - San Luis Obispo |
| HEAT | Wall Furnace |
| LOT | 0.4979 acre(s) |
| POOL DESCRIPTION | None |
| STORIES | 2 |
| SUBDIVISION | Not Applicable |
| UTILITIES | Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW | Yes |
Location
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Listed with Colliers International
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