131 Ramona Drive, San Luis Obispo, California 93405, San Luis Obispo, 93405 - 3 bed, 1 bath
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San Luis Obispo, California 93405
This property presents a High-Potential Investment Opportunity with a List Price of $940,000—positioned well above the $889,148 Fair Market Value by -5%. While the home requires modernization, its Fair Condition Rating and prime Foothill location near Cal Poly ensure strong rental demand. The 6,300 sqft lot and sweeping mountain views provide a solid foundation for value-add renovations. This asset is an ideal acquisition for Buy-and-Hold Investors or first-time buyers capable of executing a strategic interior rehab to maximize long-term equity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 131 Ramona Drive Subject | $940,000* List Price | 3 | 1 | 1,003 | $886 | - |
A 71 Rafael Way Pending | $949,000 List Price | 3 | 2 | 1,160 | $818 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1953, the property features a highly dated kitchen with original-style tile countertops and cabinetry exceeding the 30-50 year renovation threshold. The listing description explicitly suggests 'personalization' and 'adding value through upgrades,' indicating the home requires a comprehensive interior rehab to address its aged systems and finishes.
Situated in the highly desirable Foothill area near Cal Poly and hiking trails, the property offers exceptional rental demand and long-term investment stability.
The home features sweeping, unobstructed views of Bishop's Peak, providing a stunning natural backdrop that enhances the property's overall appeal and value.
A generous 6,300-square-foot lot provides a large, private backyard with significant potential for outdoor living, gardening, or future property expansion.
With only one bathroom serving three bedrooms, the layout may present functional challenges for families or multiple tenants, potentially limiting the buyer pool.
Built in 1953, the home likely requires cosmetic and functional modernization to meet contemporary standards and maximize its market value.
Welcome to one of San Luis Obispo's most sought-after neighborhoods, where this charming 3-bedroom, 1-bathroom home offers the perfect blend of Central Coast living and investment potential. From the moment you arrive, you'll be captivated by the sweeping views of iconic Bishop's Peak, a stunning backdrop that reminds you exactly why people fall in love with SLO. Inside, you'll find a warm and welcoming layout with three comfortable bedrooms, ideal for families, roommates, or rental tenants alike. The home's bones are solid, and the possibilities for personalization are endless, whether you're looking to move right in or add value through thoughtful upgrades. Step outside and discover the true gem of this property: a large, private yard perfect for entertaining, gardening, or simply soaking up the California sunshine. Whether you envision weekend barbecues, a lush garden retreat, or an outdoor lounge space beneath the open sky, this yard delivers the room to make it happen. Tucked into a popular, established neighborhood in SLO's Foothill area, you're steps from hiking and biking trails, local parks, Cal Poly, and everything the Central Coast has to offer. Strong and consistent rental demand makes this an exceptional investment opportunity, whether you're a first-time buyer, seasoned investor, or looking to capitalize on SLO's thriving real estate market.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 10% |
| Square foot | 1,003 | 1,793 | 8% |
| Lot Size | 6,300 | 6,723 | 39% |
| Price | $940.0K | $1.26M | 18% |
| Price per sq ft | $937 | $738 | 92% |
| Built year | 1953 | 1972 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 8 | 116 | 4% |
May 29, 2026
$940,000
Initial Listing
Aug 9, 2016
$539,000
Public Record