241 Henderson, San Luis Obispo, California 93405, San Luis Obispo, 93405 - 3 bed, 2 bath
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San Luis Obispo, California 93405
This Strategic Investment and Development Asset is listed at $1,575,000, representing a premium play in the "Golden Zone" near Cal Poly. While the $1,299,193 Fair Market Value covers the existing home, the valuation accounts for rare City-approved 4-bedroom ADU plans and a Condition Rating of 3. Featuring an updated kitchen, mountain views, and placement in the San Luis Coastal Unified district, the property is optimized for high-occupancy rental demand. This is a sophisticated acquisition for Buy-and-Hold Investors or Owner-Occupants targeting aggressive equity growth through development.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 241 Henderson Subject | $1,575,000* List Price | 3 | 2 | 1,471 | $883 | - |
A 2060 Hope Street Sold | $1,103,000 | 3 | 2 | 1,144 | $964 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property is move-in ready and has been well-maintained despite its 1953 build date. It features a functional, updated kitchen with light wood cabinetry and tile flooring, along with remodeled bathrooms. While some elements like the carpeting and white appliances are slightly dated, the overall condition is solid with no immediate renovations required, meeting the criteria for a well-maintained, updated home.
Situated in the highly coveted 'Golden Zone' just steps from Cal Poly San Luis Obispo, the property offers unparalleled rental demand and long-term appreciation potential.
The inclusion of City-approved plans for a 4-bedroom ADU provides a rare, shovel-ready opportunity to nearly double the rental capacity and significantly increase the property's total value.
With a newer kitchen, remodeled bathrooms, and a flexible floor plan capable of adding a fourth bedroom, the existing home is move-in ready and optimized for maximum utility.
The property was recently sold within the past year on 2026-01-22. The sold price is $1,200,000.00.
The current lease is in place until June 30, 2026, which limits immediate flexibility for owner-occupants or developers looking to start construction right away.
Built in 1953, the property may require more intensive maintenance or upgrades to underlying systems like plumbing and electrical compared to newer constructions in the area.
Prime investment opportunity in the highly sought-after “Golden Zone” just steps from California Polytechnic State University. This charming property offers an ideal blend of location, flexibility, and future development potential. The existing home features 3 bedrooms and 2 bathrooms, thoughtfully updated with a newer kitchen and somewhat remodeled bathrooms, creating a comfortable and move-in ready living space. An indoor laundry room adds everyday convenience, while the flexible floor plan offers the potential to convert the dining room or kitchen area into a fourth bedroom—maximizing use and versatility. From the street, the home boasts darling curb appeal with low-maintenance, drought-resistant landscaping, a turf lawn, and a welcoming front deck—perfect for enjoying the Central Coast lifestyle without the upkeep. What truly sets this property apart are the City-approved plans for a 4-bedroom ADU, presenting a rare and valuable opportunity to significantly increase long-term value in one of the most desirable locations in San Luis Obispo. The current lease is in place through 6/30/2026, offering a clear timeline for future planning. Whether you're looking to expand your portfolio, secure a prime location near campus, or capitalize on development potential, this is an exceptional opportunity you won’t want to miss.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 48% |
| Baths | 2.0 | 3.0 | 46% |
| Square foot | 1,471 | 1,868.5 | 24% |
| Lot Size | 5,100 | 6,645 | 19% |
| Price | $1.57M | $1.27M | 72% |
| Price per sq ft | $1.1K | $698 | 98% |
| Built year | 1953 | 1971 | 31% |
| HOA | $0 | $0 | 50% |
| Days on market | 12 | 140 | 2% |
Apr 10, 2026
$1,575,000
Initial Listing
Jan 22, 2026
$1,200,000
Public Record
Nov 9, 2015
$705,000
Public Record