1481 Balboa, San Luis Obispo, California 93405, San Luis Obispo, 93405 - 6 bed, 3 bath

1481 Balboa
San Luis Obispo, California 93405
Property Price
SUMMARY
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1481 Balboa Subject | $1,195,000* List Price | 6 | 3 | 1,817 | $603 | - |
A 1466 Balboa Street Sold | $995,000 | 4 | 2 | 1,380 | $721 | 0.0 mi |
B 1384 Cavalier Lane Sold | $1,137,000 | 5 | 3 | 2,002 | $568 | 0.3 mi |
C 1730 Portola Sold | $1,150,000 | 4 | 2 | 2,424 | $474 | 0.9 mi |
D 932 Legacy Lane Sold | $1,295,000 | 4 | 4 | 2,336 | $554 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is move-in ready and features a brand-new, modern 2-bedroom ADU with high-end finishes like quartz countertops and stainless appliances. The 1963 main house has been well-maintained and significantly updated with a newer roof, furnace, windows, vinyl plank flooring, and professional foundation shoring. While the main kitchen is functional rather than fully renovated, the extensive recent capital improvements and the addition of the turnkey ADU justify a good condition rating.
PROSSTRENGTHS & OPPORTUNITIES
- Dual-Living & Income Potential
The property features a brand-new, turnkey 2-bedroom attached ADU with a private entrance, providing an exceptional opportunity for rental income, student housing, or multi-generational living.
- Significant Capital Improvements
Major high-cost items have already been addressed, including a newer roof, furnace upgrade, newer windows, and professional foundation shoring, offering long-term peace of mind and reduced immediate maintenance costs.
- Versatile 6-Bedroom Configuration
With a total of 6 bedrooms and 3 bathrooms across two units on a 6,000 sq. ft. lot, this property offers rare flexibility and high utility for investors targeting the San Luis Obispo rental market.
CONSRISKS & DEFICIENCIES
- Elimination of Garage Space
The ADU is a garage conversion, which removes all covered parking and enclosed vehicle storage, potentially a concern for buyers with multiple cars or significant storage needs.
- Inconsistent Renovation Levels
While the ADU is modern and stylish, the 1963 main residence is described as 'refreshed' and 'nicely maintained,' suggesting a potential aesthetic disconnect between the brand-new unit and the original home.
About 1481 Balboa
Tucked away on a quiet street in the Laguna Lake area, this nicely maintained property offers exceptional flexibility and value on a 6,000 sq. ft. lot. The main residence features 4 bedrooms and 2 bathrooms, complemented by a brand-new 2-bedroom, 1-bath attached ADU with its own private entrance—ideal for investors, extended family living, or rental income. The main home has been thoughtfully updated with newer windows, vinyl plank flooring throughout much of the house, and a refreshed bathroom featuring a new shower and vanity. Many major systems have also been improved, including a newer roof, a furnace upgrade, and extensive foundation shoring completed by Foundation Solutions, providing peace of mind for years to come. The kitchen and living room are generously sized and functional, while all four bedrooms offer comfortable proportions. The newly constructed garage-conversion ADU is stylish and turnkey, boasting a full kitchen with quartz countertops, stylish tile backsplash, and stainless steel appliances. The modern bathroom features a subway tile shower with a frameless glass enclosure, and vinyl plank flooring runs throughout the unit. Outside, enjoy a large driveway with ample parking and a peaceful backyard complete with a deck platform and storage shed—perfect for relaxing or entertaining. Whether you’re looking for a strong investment opportunity, a perfect setup for Cal Poly students, or a home with private guest quarters, this versatile Laguna Lake property truly checks all the boxes.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1963
- Lot Size
- 6,000 Sq. Ft.
Interior
- Total Bedrooms
- 6
- 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 | 6.0 | 4.0 | 90% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,817 | 2,133 | 39% |
| Lot Size | 6,000 | 7,240 | 29% |
| Price | $1.20M | $1.23M | 47% |
| Price per sq ft | $658 | $632 | 53% |
| Built year | 1963 | 1965 | 45% |
| HOA | $0 | $0 | 50% |
| Days on market | 25 | 157 | 2% |
Pricing History
Listed for Sale
Feb 10, 2026
$1,195,000
Initial Listing
Sold
Apr 15, 2024
$862,000
Public Record















































