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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!
Property Type(s):
Single Family
| Last Updated | 8/15/2025 | Year Built | 1925 |
|---|---|---|---|
| Community | SLO - San Luis Obispo | Garage Spaces | 2.0 |
| County | San Luis Obispo |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Oven, Gas Range, Refrigerator |
| AREA | SLO - San Luis Obispo |
| GARAGE | Yes |
| HEAT | Central |
| INTERIOR | Ceiling Fan(s) |
| LOT | 7501 sq ft |
| LOT DESCRIPTION | Front Yard, Sloped Down |
| PARKING | Concrete, Driveway |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| UTILITIES | Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected |
| VIEW DESCRIPTION | None |
| WATER | Public |
Location
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Listed with Farrell Smyth Real Estate
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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