Repositioning Opportunity in the prime part of Downtown San Luis Obispo. 4.5% CAP on current income, which includes $1,500 / month net from a cell tower lease from Verizon wireless which just signed an LOI with the owner. Takken Shoes (ground floor) pays $6,300 per month and the upstairs offices rent for $4,500 monthly. Almost 5,000 new residential homes are currently being built or in the approval process within a 2.5 mile radius of Marsh Street. Attached brochure has the details of the downtown development surrounding this property and financial analysis. Current owner built this property in 1987.