1498 O'connor Way, San Luis Obispo, California 93405, San Luis Obispo, 93405 - 4 bed, 3 bath

1498 O'connor Way
San Luis Obispo, California 93405
Property Price
SUMMARY
Analysis of 1498 O'connor Way, San Luis Obispo, California 93405 is currently available with a list price of $3,450,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. 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.
Condition Analysis
OVERALL CONDITION SCORE
Property is new construction or fully renovated.
While originally built in 1930, the main residence has undergone an extensive high-end renovation within the last 5 years. The kitchen is equipped with professional-grade stainless steel appliances, custom cabinetry, and premium stone countertops. The interior features modern hardwood flooring, updated recessed and pendant lighting, and fully remodeled bathrooms with contemporary fixtures, meeting the highest quality standards with no visible deferred maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8232840, living area = 2400.
- Historic Multi-Dwelling Estate
The property features a rich 19th-century legacy with multiple residences including a main house, farmhouse, and bunkhouse, offering exceptional versatility for a family compound or diverse rental income streams.
- Premier Equestrian & Agricultural Facilities
Spanning 189 acres, the estate includes extensive infrastructure for cattle grazing and equestrian pursuits, featuring two barns and a potential 12-stall horse facility with a dedicated one-acre arena.
CONSRISKS & DEFICIENCIES
- Significant Maintenance Requirements
With primary structures dating back to 1930 and a sprawling 189-acre lot, the property likely demands substantial ongoing maintenance and specialized care for its historic components.
- Niche Market Appeal
The specialized nature of a large-scale historic ranch may limit the pool of qualified buyers, as reflected by the recent significant price reduction from the original listing price.
About 1498 O'connor Way
Nestled in the heart of San Luis Obispo, California, the Historic O’Connor Ranch is a distinguished property that offers a unique blend of historical significance and modern amenities. Once part of the esteemed O'Connor Ranch, founded in the 19th century, this estate carries a legacy of ranching excellence. The original headquarters of the O'Connor Ranch is featured in Myron Angel's "History of San Luis Obispo County," highlighting its historical importance. The expansive 189-acre property offers breathtaking views, including a portion of Cerro Romualdo, one of the renowned "Seven Sisters" of San Luis Obispo. The estate comprises residences, barns, and various outbuildings, providing ample space for diverse living arrangements and agricultural pursuits. The main residence exudes historic charm and warmth. Additional structures include a second farmhouse, a bunkhouse, a rustic wood cabin, two barns, and a structure that could easily be converted into a 12 stall barn and horse facility complete with a one-acre arena, catering to equestrian enthusiasts and those seeking a serene rural lifestyle. The property is currently being used for cattle grazing and in combination with the dwellings provides multiple income streams. This property presents a rare opportunity to own a piece of San Luis Obispo's rich history while enjoying the comforts of modern living amidst picturesque surroundings. Centrally located ten minutes from downtown San Luis Obispo and 15 minutes from the ocean and popular Morro Bay. Being 3 hours from the Bay Area and Los Angeles and only 2 hours from Bakersfield, the property offers the perfect weekend getaway or family compound. Please call us to set up a tour.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1930
- Lot Size
- 8,232,840 Sq. Ft.
Interior
- Total Bedrooms
- 4
- 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 | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,400 | 2,148 | 63% |
| Lot Size | 8,232,840 | 7,254 | 98% |
| Price | $3.45M | $1.23M | 96% |
| Price per sq ft | $1.4K | $632 | 98% |
| Built year | 1930 | 1965 | 6% |
| HOA | $0 | $0 | 50% |
| Days on market | 348 | 162 | 98% |
Pricing History
Listed for Sale
Feb 26, 2026
$3,450,000
Initial Listing
Price Change
Mar 24, 2025
$4,200,000
Initial Listing


















































