1879 San Luis Drive, San Luis Obispo, California 93401, San Luis Obispo, 93401 - 4 bed, 2 bath
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1879 San Luis Drive
San Luis Obispo, California 93401
ACTIVE UNDER CONTRACT
CONDITION: FAIR
4Beds
2Baths
2,200Sq Ft
7,500Lot Size
Property Price
LIST PRICE$1,795,000
EST. MARKET VALUE
$1,599,658
12% AboveMARKET VALUE
SUMMARY
This Single-Story Residential Property is a High-Potential Investment Opportunity, listed at $1,795,000—positioned above the $1,580,143 Fair Market Value. While currently priced for the market, the home offers a Condition Rating of 4, providing a solid foundation for value-add cosmetic updates. Featuring a 7,500 sq. ft. lot, 4 bedrooms, and scenic hill views, the property excels in location near Cal Poly and downtown. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to personalize a well-located San Luis Obispo asset.
Estimated Market Value
$1,599,658
Based on Realkey algorithm analyzing recent comparable sales in San Luis Obispo.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1950, this property is well-maintained and functional but shows clear signs of being dated. The interior features, such as the parquet flooring, older built-in cabinetry, and cedar closets, suggest the home has not undergone a major renovation in over 20 years. While move-in ready, it requires cosmetic and likely system updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Premier Location
Situated in one of San Luis Obispo's most prestigious neighborhoods, this property offers unparalleled proximity to downtown, Cal Poly, and top-rated schools, ensuring long-term value and convenience.
- Functional Single-Story Layout
The 2,200-square-foot single-level floor plan features four bedrooms and a seamless indoor-outdoor flow, making it highly desirable for a wide range of buyers, from growing families to those seeking to age in place.
- Expansive Outdoor Living
A generous 7,500-square-foot lot includes a large back deck and a Santa Maria-style BBQ, providing an ideal setting for entertaining and gardening in a private, neighborhood-view environment.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2200, other record living area = 2500.
- Vintage Infrastructure
Built in 1950, the home may require significant updates to its original systems or cosmetic finishes to meet modern energy efficiency and contemporary design standards.
- Market Stagnation
With 44 days on the market and a substantial price reduction from the original $1.95M, the property may face buyer scrutiny regarding its initial overpricing and current value proposition.
About 1879 San Luis Drive
Welcome to this charming, spacious, and light-filled 4 bedroom, 2 bath single-story home set on a generous 7,500 square foot lot in one of San Luis Obispo's most sought-after neighborhoods. The large living room with a fireplace is perfect for everyday living and entertaining. The dining room opens onto a beautiful back deck, creating the perfect indoor-outdoor connection for hosting friends and family, weekend barbecues, or quiet evenings under the stars. The expansive backyard offers endless possibilities for gardening, play areas, or simply room to breathe. Additional highlights include hardwood floors, an attached, 2-car garage, laundry room, and Santa Maria style BBQ. The San Luis Drive location is just minutes from the high school, Cal Poly, and the vibrant heart of downtown San Luis Obispo, putting shopping, dining, and everything SLO has to offer within easy reach. Single-story living, timeless charm, and an unmatched location on the Central Coast — this is the one you've been waiting for. Information not verified.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1950
- Lot Size
- 7,500 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 2 (2 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 |
|---|---|---|
| Beds | 4.0 | 3.1 |
| Baths | 2.0 | 3.0 |
| Square foot | 2,200 | 1,868.778 |
| Lot Size | 7,500 | 6,365.978 |
| Price | $1.79M | $1.27M |
| Price per sq ft | $816 | $676 |
| Built year | 1950 | 1986 |
| HOA | $0 | $91 |
| Days on market | 81 | 49 |
Pricing History
Listed for Sale
Aug 3, 2026
$1,795,000
$1,950,000
-8% Price Drop
Initial Listing
Price Change
Jun 20, 2026
$1,950,000
Initial Listing
Sold
Jun 21, 2013
$920,000
Public Record
Sold
Nov 13, 2008
$910,000
Public Record
Sold
Jul 10, 1996
$372,000
Public Record