The local market statistics are updated with last month’s sold data and now available on my site.
The San Luis Obispo Tribune recently published an article comparing what renters across California can get for $1,500 per month. In the city of San Luis Obispo they would get approximately 690 square feet. There are a few cities in California that are more expensive, such as San Francisco, Monterey, and Los Angeles. Renters in Fresno would get around 1,560 square feet for the same monthly rent. Click Here to read the full article on the Tribune's website.
Most single family homes can be rented out. Some condos and mobile home associations have restrictions on renting, it is important to double check that those properties can be rented to non-family members before purchasing. Right now there are 6 multifamily properties listed that have 3 or more units. A total of 51 multifamily propeties with 3 or more units sold in 2017. The properties with exactly 3 units had an average home price of $736,254 and spent an average of 54 days on the market.
We have a property management division here at Patterson Realty that can handle all of the logistics of renting out your home. Contact me if you're interested in learning more about owning rental property here on the Central Coast!
I'm proud to be your resource for market insights here on the Coast. If you're ever looking for additional information not provided here please reach out to me any time. And remember, I'm never too busy for your referrals!