San Luis Obispo County · Multifamily brokerage
San Luis Obispo apartment building sales
San Luis Obispo is the county seat of San Luis Obispo County and home to Cal Poly. It is a smaller part of our ledger than our Santa Barbara County markets, so the figures below come from a small number of sales.
Since 2004 we have closed 6 transactions in San Luis Obispo, totaling 109 units. The most recent closed in September 2023.
Market figures are the San Luis Obispo County submarket's, which includes San Luis Obispo: Radius proprietary research, calendar year 2025, vacancy as of Q4 2025. Our closings and listings are the Golis Team's own in San Luis Obispo.
Track Record
What we've sold in San Luis Obispo.
505 Brizzolara St
San Luis Obispo · 12 Units · Multifamily
$3,375,000 · December 2019
777-841 Boysen Ave
San Luis Obispo · 36 Units · Multifamily
$5,800,000 · June 2013
3985 Higuera St
San Luis Obispo · Retail
$6,975,000 · September 2007
555 Westmont Ave
San Luis Obispo · 49 Units · Multifamily
$6,750,000 · November 2004
633 Couper Dr
San Luis Obispo · 12 Units · Multifamily
$2,025,000 · March 2004
All 6 of our San Luis Obispo closingsShow the list
| Property | Type | Units | Price | Per unit | Closed | We represented |
|---|---|---|---|---|---|---|
| 641 Higuera Street | Office | — | $5,050,000 | — | September 2023 | Buyer |
| 505 Brizzolara St | Multifamily | 12 | $3,375,000 | $281K | December 2019 | Buyer |
| 777-841 Boysen Ave | Multifamily | 36 | $5,800,000 | $161K | June 2013 | Seller |
| 3985 Higuera St | Retail | — | $6,975,000 | — | September 2007 | Seller |
| 555 Westmont Ave | Multifamily | 49 | $6,750,000 | $138K | November 2004 | Seller |
| 633 Couper Dr | Multifamily | 12 | $2,025,000 | $169K | March 2004 | Seller |
These are the Golis Team's own closings, grouped by each property's mailing city, not a record of every sale in San Luis Obispo. Mailing cities don't always follow city limits, so an address here can sit just outside the City of San Luis Obispo. How we count.
Apartment buildings we've sold, by size
- 2–4 units0
- 5–19 units2
- 20–49 units2
- 50+ units0
Median building size: 24 units.
Who we represented
- Represented the seller4
- Represented the buyer2
- Represented both sides0
Multifamily 4 · Office 1 · Retail 1
Available Now
For sale in San Luis Obispo.
Rent Rules
Does San Luis Obispo have rent control?
We are not aware of a local rent cap on apartments. The state cap applies.
- California's Tenant Protection Act (AB 1482) limits yearly increases on most apartments more than 15 years old to 5% plus the regional change in CPI, never more than 10%, and requires just cause to end most tenancies after 12 months.
- The City's rent stabilization rules cover mobile home park spaces. The City has been studying further renter protections, including a rental registry, so confirm current local rules before relying on this summary.
Sources
City of San Luis Obispo rules as summarized on October 12, 2026. A summary, not legal advice: rules change, and exemptions turn on the details of a property and tenancy. Confirm with the City of San Luis Obispo or an attorney before acting.
The Wider Market
San Luis Obispo sits in our San Luis Obispo County report.
What draws buyers to San Luis Obispo County
- Cal Poly anchors steady student and young-professional demand and chronically low vacancy.
- Lifestyle migration keeps San Luis Obispo desirable and rents climbing.
- Healthy in-place yields under AB 1482 — a middle ground between the coast and North County.
What gives San Luis Obispo County buyers pause
- San Luis Obispo pricing is rich; quality assets trade at compressed cap rates.
- Local tenant protections and growth controls add operating friction.
- Distance from Santa Barbara makes hands-on management harder for out-of-area owners.
These points, like the market figures at the top of the page, describe the whole San Luis Obispo County submarket, not San Luis Obispo alone.
Research
Reading for San Luis Obispo owners.
AB 1482 in Plain English: Statewide Rent Caps and Just-Cause
The AB 1482 rent cap is 8.6% in Santa Barbara, Ventura and SLO counties through July 2027: the math, exemptions, just cause and stricter local rules.
The 1031 Exchange for Multifamily: Timeline, Pitfalls, and Replacement Strategies
How 1031 deadlines, boot and California's FTB 3840 rule work, with a Santa Barbara tax example and Central Coast replacement strategies.
Central Coast Multifamily: Q1 2026 Market Report
Q1 2026 Central Coast multifamily: 18 sales of 5+ unit buildings for $307 million, plus 17 South Santa Barbara County 2–4 unit sales.
Frequently Asked
San Luis Obispo,
answered.
Short answers to what San Luis Obispo owners and buyers ask us, from our own closings and the current rules.
How many properties has the Golis Team sold in San Luis Obispo?
Since 2004, we have closed 6 transactions in San Luis Obispo, totaling 109 units. The most recent closed in September 2023.
What do apartment buildings sell for in San Luis Obispo?
San Luis Obispo is part of the San Luis Obispo County submarket, where apartment buildings averaged $260,736 per door at a 4.85% average cap rate across 17 sales in 2025 (Radius proprietary research). Our most recent apartment sale there was 505 Brizzolara St, 12 units, at $3,375,000 in December 2019. A broker opinion of value prices a specific building against current comparables.
Does San Luis Obispo have rent control?
We are not aware of a local rent cap on apartments. The state cap applies. California's Tenant Protection Act (AB 1482) limits yearly increases on most apartments more than 15 years old to 5% plus the regional change in CPI, never more than 10%, and requires just cause to end most tenancies after 12 months. (Summary as of October 12, 2026; not legal advice.)
Which market report covers San Luis Obispo?
San Luis Obispo is part of our San Luis Obispo County report, which has the submarket's 2025 cap rate, price per door and volume, its Q4 2025 vacancy, and our commentary on where the market is heading.
Can I get a confidential valuation of my San Luis Obispo apartment building?
Yes. A broker opinion of value from the Golis Team is free and confidential, with no obligation to list. It is built on our own closed sales and current rents. Request one at https://www.centralcoastmultifamily.com/apartment-building-valuation or call 805-728-5561.
Own an apartment building in San Luis Obispo?
A broker opinion of value is free and confidential, with no obligation to list. We price it against our own closings and current rents, and walk you through the number.