
San Luis Obispo, California 93401
Analysis of 1130 Leff Street, San Luis Obispo, California 93401 is currently available with a list price of $2,400,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the San Luis Obispo Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is new construction or fully renovated.
The property consists of four units that have undergone thorough renovations within the past year, with one unit newly constructed in 2023. Major system upgrades include new electrical panels, plumbing, and HVAC (furnaces, tankless water heaters, and mini-splits). Kitchens and bathrooms feature modern finishes such as quartz countertops, shaker cabinets, and new appliances, placing the entire complex in mint, move-in-ready condition.
The property features four fully renovated units with extensive updates to electrical, plumbing, and appliances, including a brand-new 2023 unit, significantly reducing immediate capital expenditure for a new owner.
Situated in the heart of San Luis Obispo, this quadruplex benefits from high tenant demand and proximity to downtown amenities, ensuring consistent occupancy and strong long-term appreciation.
With a total of 10 bedrooms, separate electric meters, and private laundry facilities, the property is configured for maximum rental yield with documented room for further rent increases.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3061, other record living area = 1836.
The 3-bedroom units are configured with only one bathroom each, which may limit appeal for certain tenant profiles and impact the maximum achievable rent per occupant.
The property combines a 1925 vintage structure with newer builds, requiring the owner to manage disparate building systems and the inherent long-term maintenance challenges of century-old foundations.
Amazing opportunity to own 4 fully renovated, high income producing units for a total of 10 bedrooms in downtown San Luis Obispo with several off street parking spots and a private laundry room. There are two buildings and each building has one 3 bedroom unit and one 2 bedroom unit ensuring high income for years to come. Over the past year each unit has received a thorough renovation. The property has seen electrical updates including new panels, plumbing updates, new appliances, new interior and exterior painting and new flooring. Unit A is a 3 bedroom 1 bath open floor plan with new cabinets, quartz counters, luxury vinyl plank flooring (LVP), remodeled bathroom, a tankless water heater and a new furnace. Unit B retains much of the vintage charm from when the back building was built that includes refinished original cabinets and a one piece custom sink and countertop. There is plenty of light in this 2 bedroom unit with updated forced air heating, new shower, original hardwood and vintage tile. Units C & D are in the front building that was built in 2000, although Unit D was just built in 2023 so everything is new in that unit. Unit C is a 3 bed 1 bath unit with vaulted ceilings, a balcony and unique corner windows that bring in more natural light. Unit D has 2 bedrooms, 1 bath, modern finishes that include white shaker cabinets, LVP flooring, quartz counters, black hardware and a mini-split to provide heat and AC. Each unit has separate electric meters and current rents have plenty room for increase.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.9 |
| Baths | 0.0 | 4.5 |
| Square foot | 3,061 | 2,683.545 |
| Lot Size | 5,750 | 6,022.545 |
| Price | $2.40M | $1.39M |
| Price per sq ft | $784 | $630 |
| Built year | 1925 | 1953 |
| HOA | $0 | $258 |
| Days on market | 30 | 39 |
Aug 10, 2026
$2,400,000
Initial Listing
Oct 21, 2020
$1,110,000
Public Record
Jan 22, 1999
$180,000
Public Record