1143 Walnut Street, San Luis Obispo, California 93401, San Luis Obispo, 93401 - 5 bed, 3 bath
1143 Walnut Street
San Luis Obispo, California 93401
Property Price
SUMMARY
Analysis of 1143 Walnut Street, San Luis Obispo, California 93401 reveals a Fairly Priced Property with a current list price of $1,095,000 aligned with the estimated $1,082,375 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. 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.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1143 Walnut Street Subject | $1,095,000* List Price | 5 | 3 | 1,953 | $554 | - |
A 1126 Mill Pending | $1,000,000 List Price | 3 | 2 | 1,562 | $640 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property consists of a 1925 main house and a 1938 ADU that are functional and currently occupied but show significant signs of age. The kitchens feature dated cabinetry, laminate countertops, and older white appliances, while the bathrooms and flooring reflect a lack of recent modernization. While the property is maintained well enough for rental income, the overall aesthetic and systems are outdated, fitting the criteria for a property built over 20 years ago with no major recent renovations.
PROSSTRENGTHS & OPPORTUNITIES
- Dual-Unit Income Stream
The property features a 4-bedroom main house and a detached 1-bedroom ADU, both currently rented, providing immediate cash flow and versatile options for multi-generational living or rental income.
- R2 Zoning & Development Potential
Situated on a 7,500 sqft R2-zoned lot, this property offers significant upside for investors to expand, reconfigure, or add units in a high-demand San Luis Obispo corridor.
- Prime Downtown Proximity
Located just minutes from downtown San Luis Obispo with easy freeway access, the property boasts a highly desirable location near shops, restaurants, and public transit.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
With the primary structures built in 1925 and 1938, the property likely requires modernization and may have deferred maintenance issues typical of century-old homes.
- Significant Price Adjustment
A recent $200,000 price reduction from the original listing suggests the property may have faced challenges with its initial market valuation or buyer interest.
About 1143 Walnut Street
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 Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1925
- Lot Size
- 7,500 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 93% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,953 | 1,722 | 62% |
| Lot Size | 7,500 | 6,000 | 70% |
| Price | $1.09M | $1.17M | 44% |
| Price per sq ft | $561 | $660 | 15% |
| Built year | 1925 | 1994 | 10% |
| HOA | $0 | $0 | 50% |
| Days on market | 204 | 184 | 64% |
Pricing History
Listed for Sale
Feb 26, 2026
$1,095,000
Initial Listing
Price Change
Aug 15, 2025
$1,295,000
Initial Listing