Land For Sale
263 W Foothill Blvd, San Luis Obispo
Owner may consider a Joint Venture. The historic Alex Madonna-Alberti Ranch is centered in one of the most prime parts of the Central Coast of California, San Luis Obispo. The ranch is nestled between the base of Cerro San Luis along the northern property line and encompasses a portion of Laguna Lake to the southeast section. Cerro San Luis Obispo, or commonly referred to as Madonna Mountain, is a member of the or Nine Sisters, a chain of prominent volcanic peaks stretching east from Morro Bay.
A stream runs along the foothill frontage of the property with several intermittent streams running from Cerro San Luis to the lake. The ranch is only 10 miles from Avila Beach to the south, 10 miles from Morro Bay Beach to the west, and despite its rural feel, is located just a few minutes from downtown San Luis Obispo. This is an unparalleled opportunity for an astute buyer looking for a ranch with a wealth of possibilities located in the heart of the Central Coast’s gem.
Of 58 California counties, San Luis Obispo ranks fourth for broccoli, cauliflower and strawberry production, and is ranked fifth for avocado and flower production. 2018 was the first year ever the county’s total agricultural production reached more than one billion dollars. The property soil classifications and microclimate are suitable for farming many permanent or rotational crops that the region is well known for. Currently there are no irrigated or dry crops produced on the property. See page 10 for the mapped physical features and soils classifications of the property.
Subdividing by Lot Line Adjustments:
The ranch is comprised of 4 APNs and 7 parcels with recorded certificates of compliance. The ranch offers a new buyer the chance to reconfigure the parcels into a variety of layouts through lot line adjustments, versus having to go through a lengthy mapping process. After processing a LLA a buyer could sell off some or all of these smaller portions of the ranch at a potential premium.
Future Development Opportunities:
The property is not in the Williamson Act which could allow for potential future development, most likely as part of a rezone and an annexation into the city. The ranch and surrounding properties are within the City’s Sphere of Influence Area 9. The area is bounded by Los Osos Valley Road to the south and Foothill Boulevard to the east. The City has identified the potential land use for this area as Residential and Open Space. Much smaller ranches in the area that have been annexed into the city and rezoned have sold for over four times the asking price of this opportunity.