256 Via San Blas, San Luis Obispo, California 93401, San Luis Obispo, 93401 - 3 bed, 3 bath
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256 Via San Blas
San Luis Obispo, California 93401
ACTIVE UNDER CONTRACT
CONDITION: FAIR
3Beds
3Baths
1,565Sq Ft
2,133Lot Size
Property Price
LIST PRICE$699,900
EST. MARKET VALUE
$739,333
5% BelowMARKET VALUE
SUMMARY
This 3-bedroom Townhouse represents a Strong Value Opportunity, listed at $699,900—positioned well below the $739,334 Fair Market Value by 5%. This valuation gap provides $39,434 in Instant Equity. Featuring a Condition Rating of 4, the home includes recent laminate flooring and new kitchen appliances. The versatile layout, including a downstairs bedroom with separate entry, is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a property near Cal Poly and top-rated schools like San Luis Obispo High.
Estimated Market Value
$739,333+$39,433 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in San Luis Obispo.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 256 Via San Blas Subject | $699,900* List Price | 3 | 3 | 1,565 | $472 | - |
A 269 Via San Blas Sold | $780,000 | 3 | 3 | 1,565 | $498 | 0.0 mi |
B 3203 Via Ensenada Sold | $685,000 | 2 | 3 | 1,389 | $493 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1988, this property is over 20 years old. While it features recent cosmetic improvements such as new laminate flooring (6 months old) and new kitchen appliances, the bathrooms remain dated with original-style tile countertops and older cabinetry. The overall structure is functional and move-in ready, but it requires further modernization of the primary systems and wet areas to meet higher condition standards.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Market Value
Positioned as the lowest-priced 3-bedroom home in San Luis Obispo, this property is listed significantly below recent comparable sales of $780,000, offering immediate equity potential.
- Versatile Layout
The floor plan includes a downstairs bedroom and bathroom with a separate entry, making it ideal for multi-generational living, a home office, or potential rental income near Cal Poly.
- Turnkey Interior Updates
The home features several recent upgrades, including all-new kitchen appliances, newer laminate flooring, and upgraded lighting, providing a move-in-ready experience for the buyer.
CONSRISKS & DEFICIENCIES
- Restrictive Parking Rules
The HOA prohibits overnight parking in driveways, which may pose a significant inconvenience for multi-vehicle households despite the availability of nearby street parking.
- High Monthly Carrying Costs
The $465 monthly association fee is a substantial recurring expense that buyers must account for in their total monthly budget.
About 256 Via San Blas
Walk in and fall in love, this is the lowest price 3 bedroom 2 1/2 bath home in SLO. Plus has a bedroom and bath downstairs with separate entry. Beautiful 2 story end unit Townhome. In the very popular Margarita Villas planned urban community. All newer laminate flooring downstairs (6 months new). Shows light and bright with vaulted ceilings. ALL NEW KITCHEN APPLIANCES. Has separate dining area and breakfast bar. Kitchen has newer upgraded lighting. (no fluorescent) Has 1 bedroom downstairs and 1/2 bath with direct access to backyard with fabulous additional street parking. (No overnight parking in driveways) This makes it so convenient. Wood burning fireplace in living room. X-large primary bedroom with walk in closest, dual sinks and located in private area of home. 2 car garage with direct access to your home. Nestled within a beautiful neighborhood, with lots of trees and walkways. HOA includes community pool, spa. Great area for walking your pets. Located in the heart of San Luis Obispo, close to everything, downtown, transit transportation, Cal Poly. Only 1 common wall. Same floor plan just sold for $780,000 and a 2 bedroom with same location smaller sq feet sold for $779,900.
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 1988
- Lot Size
- 2,133 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $465.0 / Month
Neighborhood Insights
San Luis Obispo Unified Schools
Hawthorne Elementary School
Grades K-6 • 1.1 mi
7/10
Laguna Middle School
Grades 7-8 • 1.8 mi
7/10
San Luis Obispo High School
Grades 9-12 • 1.9 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.8 |
| Square foot | 1,565 | 1,548.333 |
| Lot Size | 2,133 | 1,903.5 |
| Price | $699.9K | $814.4K |
| Price per sq ft | $447 | $511 |
| Built year | 1988 | 1998 |
| HOA | $465.0 | $388 |
| Days on market | 26 | 52 |
Pricing History
Listed for Sale
Aug 14, 2026
$699,900
Initial Listing
Sold
Jun 22, 2016
$469,500
Public Record
Sold
Feb 24, 2006
$520,000
Public Record