1527 Royal Way
Description
2 parking spaces for each unit. Additional lot on the left side that could take a trailer or RV with pull out. Lot has electric plug for the RV and is possible to connect to the existing sewer line. The parking lot was recently refinished. The complex is 5 mi to Cal-Poly , 5-mi to Avila beach, Costco, Target, Home Depot are very close. As you can see these are quality, turn key units with an annual gross income of over $151,000. All 4 units are on annual leases that started mid-August 2024 until mid-August 2025 with options to renew leases. Large lot 11,000 sq ft, view of the mountains from several bedrooms.
- Listed by James Kelsey • DRE #01354722 • Brokerage DRE #01450133 • Century 21 Hometown Realty, Arroyo Grande Office • 805-709-4828
Property Details for 1527 Royal Way
Property Details for 1527 Royal Way
| Status | Active |
|---|---|
| MLS # | PI24219494 |
| Days on Market | 24 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1971 |
| Lot Size | 0.24 AC / 10,500 SF |
| County | San Luis Obispo County |
Building Information for 1527 Royal Way
Property Information for 1527 Royal Way
- Tenant Pays: Cable TV, Electricity, Gas
- Gross Income: $151,320
- Gross Scheduled Income: $151,320
- Net Operating Income: $107,557
- Cap Rate: 4.0
- Current Financing: Conventional
- Operating Expense: $43,763
- New Taxes Expense: $30,363
- Gardener Expense: $1,392
- Pest Control Expense: $600
- Electric Expense: $0
- Insurance Expense: $4,337
- Trash Expense: $2,160
- Water Sewer Expense: $5,400
- Total Expenses: $43,763
- CFD/Mello-Roos Fee: $0
- Community Features: Biking, Curbs, Dog Park, Foothills, Golf, Hiking, Gutters, Park, Sidewalks, Street Lights
- Interior Features: Formica Counters, High Ceilings
- Room Type: All Bedrooms Up, Foyer
- Bedroom Features: All Bedrooms Up
- Laundry: Yes
- Laundry Features: Dryer Included, Inside, Stackable, Washer Included
- Fireplace Features: Family Room, Gas
- Fireplace Rooms: Family Room, Gas
- Cooling: None
- Heating Type: Central
- Heating: Central
- Flooring: Tile, Vinyl
- Entry Location: living room
- Fence: Yes
- Fence: Wood
- Fencing: Wood
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Lot Features: 11-15 Units/Acre
- Number Of Units: 4
- Land Lease: No
- Land Lease Type: Fee
- Road Surface Type: Paved
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Electric: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Water Source: Public
- Garage Spaces: 0
- Parking: Yes
- Parking Garage: Assigned
- Uncovered Spaces: 8
- Open Other Spaces Total: 8
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Parking Features: Assigned, Asphalt, Driveway Level
- Builders Tract Name: San Luis Obispo
- Builders Tract Code: San Luis Obispo(380)
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $3,080
- Unit Type Total Rent: $3,080
- Unit Type Pro Forma: 3250
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $3,250
- Unit Type Total Rent: $3,250
- Unit Type Pro Forma: 3300
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $3,110
- Unit Type Total Rent: $3,250
- Unit Type Pro Forma: 3250
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $3,170
- Unit Type Total Rent: $3,170
- Unit Type Pro Forma: 3250
- Unit Type Type: 4
- Number Of Units Leased: 4
- Rent Controlled: No
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 4
- Number Of Separate Gas Meters: 4
- Number Of Separate Water Meters: 0
- Number With Dishwasher: 4
- Number With Range: 4
- Number With Refrigerator: 4
- Number With Disposal: 4
- Number With Drapes: 4
- Number With Patio: 4
Property History for 1527 Royal Way
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1527 Royal Way
Schools near 1527 Royal Way
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 10 to 12 |
Rating | School | Distance |
|---|---|---|
Smith (C. L.) Elementary School PublicK to 6 | ||
Laguna Middle School Public7 to 8 | ||
San Luis Obispo High School Public9 to 12 | ||
Pacific Beach High School Public10 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Century 21 Hometown Realty, Arroyo Grande Office, James Kelsey, DRE #01354722
Based on information from one of the following Multiple Listing Services: Santa Barbara MLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Santa Barbara MLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.