Rose, Home Buyer in Manteca, CA

Parents have a 3 bed/ 2.5 bath Villa Rosa Condo in SLO. What are rents going for these days? Also, what is average sale price in today's market?

Asked by Rose, Manteca, CA Wed Feb 27, 2013

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Hi Rose,

In order to give you an accurate rental price I would need to know the SF, size, condition, etc. If you are looking to rent out the condo then message me privately and I can get more information from you to give you a more detailed answer. If you are wanting to sell it - it also depends on the above. I would love to help you - please see my information below.

Best,
Kelly Sans, Realtor®
Century 21 Hometown Realty
539 Marsh Street
San Luis Obispo, CA 93401
Cell: 805.748.9402
Ofc: 805.773.2100
kellysans@C21home.com
http://www.C21Home.com
0 votes Thank Flag Link Wed Feb 27, 2013
There is a 3 bedroom unit for sale BUT *** Please Note: This is a unit sold through the Long Term Affordability Program through the City of San Luis Obispo *** Buyer income limits and deed retrictiions apply *

These restrictions greatly impact the true value and this would not be relevant to the value of your unit unless it is also in the same program.
0 votes Thank Flag Link Wed Feb 27, 2013
Rentals vary in price and as long as the (CC&RS / HOA) permit renting the home, it will depend on the condition and location. However, you should be able to get from $1800.00 to $2,500 per month for a three bedroom condo in SLO.

As far as average sale price, of a home. Determining the average price does not help to determine value, which I can only assume is why you are asking the question. Every property is different and needs to be compared to the recent sales which are comparable to the subject property. I can run a comparative marketing (CMA) analysis if I had more information. I can also send you a list of recent sales in the Villa Rosa Condo if you contact me directly.

You can look at the competition for condos that are available in SLO on my web site at http://www.dnorwood.com/San_Luis_Obispo_CA_Condos_for_Sale.aspx - currently there are 13 condominiums available for sale.

David Norwood - Central Coast Real Estate 805-471-0828 David@DNorwood.com
Web Reference: http://DNorwood.com
0 votes Thank Flag Link Wed Feb 27, 2013
Rentals in San Luis Obispo are in short supply these days and I would expect the monthly rent range to be somewhere between $2000-2400 depending on the condition of your home and how many people you rent to. Typically you will get the highest rent from unrelated people sharing rooms but this will also likely mean more wear and tear, parking issues etc. If you limit the number of occupants you will likely have a more pleasant experience as a landlord. The values in SLO have also been on the rise and there have not been any 3 bedrooms that have sold via the Multiple Listing Service in the last 14 months. The last 2 bedroom unit closed in Jan 2013 for $345,000 and was 1396 sq ft. It was listed for $339,000. Without seeing the interior and having more details it is difficult to give you accurate estimate of current market value but it should be in the range of $375,000-$400,000. If you would like a more detailed analysis please contact me and I would be happy to provide one.

Paul Buschur
Buschur Realty
805-541-3536
Paul@sloRealEstate.com
http://www.sloRealEstate.com
0 votes Thank Flag Link Wed Feb 27, 2013
At the moment, there is only one condo for sale in that complex. It's a 3 bedroom, 2.5 bath (1492 s.f.) home and they are asking $329,450.

Rents in SLO are fairly high, especially for student rentals. Some homes in this complex are rented to students, but most seem to be owner-occupied or rented to families. Rent for one this size might range from $2200-$2500, or somewhat less depending on location and condition.
0 votes Thank Flag Link Wed Feb 27, 2013
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