1143 Walnut Street, San Luis Obispo, CA 93401
List Price: $1.09M
Listing Status: Pending
Original List Price: $1.29M
0Days on Market: 151
5 Bedrooms · 3 Bathrooms · 1,953 sq ft
Property Type: Residential
Year Built: 1925
Lot Size: 7,500 sq ft
Garage Spaces: 2
Private Pool: Yes
MLS Number: SC25180078
About This Property
Investment Opportunity in Prime San Luis Obispo Location – R2 Lot with Expansion Potential! Unlock the possibilities with this centrally located property just minutes from downtown San Luis Obispo and convenient freeway access. Situated on an R2-zoned lot, this unique investment opportunity features a spacious 4-bedroom, 2-bathroom main house built in 1925, plus a detached 1-bedroom, 1-bathroom ADU built in 1938 - ideal for rental income, multi-generational living, or future development. Both units are currently rented, providing immediate cash flow for investors. The property offers flexible living arrangements and strong rental potential, with ample space to reconfigure, upgrade, or expand. Whether you're looking to add units, renovate, or build out, the R2 zoning opens doors for creative growth (buyer to verify all plans and zoning with the city). Enjoy the benefits of a downtown neighborhood near shops, restaurants, parks, and public transit. With income already in place and zoning that supports future development, this property is a smart addition to any portfolio. Explore the upside potential and make your move in one of SLO’s most desirable investment corridors. Don’t miss out—schedule a viewing and explore the potential today!
Listing provided by: Jennifer Hamilton DRE #01800791 805-543-2172 jennifer@farrellsmyth.com, Farrell Smyth Real Estate
Source: CRMLS