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

1481 Balboa, San Luis Obispo, California 93405 home-pic-0

1481 Balboa

San Luis Obispo, California 93405

ACTIVE UNDER CONTRACT
CONDITION: GOOD
6Beds
3Baths
1,817Sq Ft
6,000Lot Size

Property Price

LIST PRICE$1,195,000
EST. MARKET VALUE
$1,096,358
8% AboveMARKET VALUE

SUMMARY

Estimated Market Value

$1,096,358
Based on Realkey algorithm analyzing recent comparable sales in San Luis Obispo.

Comparable Sales Map

Comparables within 1 miles sold in recently

Address Sold Price BedsBathsSq Ft$/SqftDistance
1481 Balboa
Subject
$1,195,000*
List Price
631,817$603-
A
1466 Balboa Street
Sold
$995,000421,380$7210.0 mi
B
1384 Cavalier Lane
Sold
$1,137,000532,002$5680.3 mi
C
1730 Portola
Sold
$1,150,000422,424$4740.9 mi
D
932 Legacy Lane
Sold
$1,295,000442,336$5540.5 mi

* Subject property listed price vs sold prices of comps.

Condition Analysis

OVERALL CONDITION SCORE

Good
TeardownExcellent

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

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds6.04.0
90%
Baths3.03.0
50%
Square foot1,8172,133
39%
Lot Size6,0007,240
29%
Price$1.20M$1.23M
47%
Price per sq ft$658$632
53%
Built year19631965
45%
HOA$0$0
50%
Days on market25157
2%

Pricing History

Listed for Sale

Feb 10, 2026

$1,195,000

Initial Listing

Sold

Apr 15, 2024

$862,000

Public Record

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