
San Luis Obispo, California 93405
This Spanish/French Country Estate is a Strong Value Opportunity, listed at $3,399,000—positioned well below the $3,605,523 Fair Market Value by 5%. This valuation gap offers $206,523 in Instant Equity for the buyer. Featuring a 4-bedroom, 5-bath layout with a detached casita and panoramic mountain views, the property maintains a Condition Rating of 4. While the home is well-maintained, it offers significant potential for modernization. This is an ideal acquisition for Owner-Occupants or Luxury Investors seeking a private, high-utility estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1220 Bassi Subject | $3,399,000* List Price | 4 | 5 | 5,907 | $610 | - |
A 1175 Bassi Sold | $3,945,000 | 6 | 6 | 6,056 | $651 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1996, the property is 30 years old and falls into the dated category. While the home is exceptionally well-maintained with high-end appliances and fresh paint, the core aesthetic—including the Saltillo tile flooring, 90s-style floral bathroom tile, and original cabinetry—requires modernization to meet current luxury standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 115434, living area = 5907.
Set on 2.65 acres within the gated Bassi Ranch, this estate offers unparalleled privacy, botanical gardens, and versatile outdoor structures including a four-bay garage and a dedicated tractor shed.
The property features a detached 384-square-foot casita and dual primary suites, providing flexible living arrangements for guests, extended family, or sophisticated home office needs.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 5907, other record living area = 5424. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
While the home features fresh paint and kitchen updates, the 1996 construction date suggests that original major mechanical systems or roofing may soon require evaluation for replacement or modernization.
The combination of extensive landscaped acreage, a large square footage, and a $480 monthly association fee implies high ongoing maintenance and carrying costs for the future owner.
Behind the gates of Bassi Ranch lies an exceptional Spanish/French Country estate set on 2.65 beautifully landscaped acres. This custom home strikes an elegant balance between timeless design and modern comfort, framed by meandering pathways, peaceful courtyards, pergolas, and sweeping views of rolling hills, distant mountains, and a glimpse of the ocean. This 5,523-square-foot main residence offers three bedrooms and four baths, while a detached 384-square-foot casita with its own bath provides flexible space for guests or multigenerational living. A four-bay garage with ample storage, plus a separate detached garage for garden and tractor equipment, rounds out the property's exceptional utility. From the moment you pass through the stately front gate and travel the long, landscaped driveway, the home's extraordinary craftsmanship comes into view. Curved walls, intricate ceilings, arched windows and doorways, built-in cabinetry, and handcrafted tile showcase a level of authentic detail rarely seen today, while fresh interior paint and updated kitchen accents lend a warm, inviting atmosphere throughout. The open floor plan centers on a grand living room and formal dining area, perfect for entertaining. The gourmet kitchen features premium appliances, a center island with bar seating, and a breakfast nook that opens directly onto a lush botanical garden, blending indoor and outdoor living with ease. Dual primary suites offer flexible luxury: the main-level suite includes a private office or den and a spa-style bath with a soaking tub and walk-in shower, while the upper-level suite boasts a private deck with panoramic views. Both suites include spacious walk-in closets. Additional living spaces include a versatile library and a dedicated office space. With four bedrooms, four garage bays, a dedicated utility garage, and the additional bonus rooms, this property supports multiple living styles. Offering serenity, privacy, and space just minutes from the beach, wineries, and a host of other activities, this estate is a rare opportunity to own a truly remarkable piece of California living.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.1 |
| Baths | 5.0 | 3.0 |
| Square foot | 5,907 | 1,868.778 |
| Lot Size | 115,434 | 6,365.978 |
| Price | $3.40M | $1.27M |
| Price per sq ft | $575 | $676 |
| Built year | 1996 | 1986 |
| HOA | $480.0 | $91 |
| Days on market | 15 | 49 |
Aug 25, 2026
$3,399,000
Initial Listing
Mar 26, 2021
$2,310,000
Public Record