261 Via La Paz, San Luis Obispo, California 93401, San Luis Obispo, 93401 - 2 bed, 3 bath
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261 Via La Paz
San Luis Obispo, California 93401
ACTIVE
CONDITION: FAIR
2Beds
3Baths
1,341Sq Ft
2,178Lot Size
Property Price
LIST PRICE$739,000
EST. MARKET VALUE
$689,110
7% AboveMARKET VALUE
SUMMARY
This Townhouse represents a Strong Value Opportunity, listed at $739,000—positioned well above the $689,110 Fair Market Value by 7%. While the property requires modernization, its Fair Condition Rating and original 1988 charm offer a blank canvas for value-add renovations. Featuring Dual Primary Suites, high vaulted ceilings, and access to community pool and spa amenities, the home provides significant lifestyle utility. Located near highly-rated schools like San Luis Obispo High, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a long-term project.
Estimated Market Value
$689,110
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 |
|---|---|---|---|---|---|---|
★ 261 Via La Paz Subject 2 bd · 3 ba · 1,341 sqft · $514 | $739,000* List Price | 2 | 3 | 1,341 | $514 | - |
A 269 Via San Blas Sold 3 bd · 3 ba · 1,565 sqft · $498 · 0.0 mi | $780,000 | 3 | 3 | 1,565 | $498 | 0.0 mi |
B 3203 Via Ensenada Sold 2 bd · 3 ba · 1,389 sqft · $493 · 0.1 mi | $685,000 | 2 | 3 | 1,389 | $493 | 0.1 mi |
C 256 Via San Blas Pending 3 bd · 3 ba · 1,565 sqft · $447 · 0.1 mi | $699,900 List Price | 3 | 3 | 1,565 | $447 | 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 36-year-old property is well-maintained by the original owner but remains largely dated. While the kitchen features newer tile and stainless appliances, the overall interior finishes and systems are aged, placing it in the 'Fair' category as it requires cosmetic updates and minor repairs to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Dual Primary Suites
The upstairs layout features two primary suites, each with its own private bathroom, providing excellent privacy and versatility for roommates or guests.
- Architectural Appeal
High vaulted ceilings paired with south-facing windows ensure the living space is bright, airy, and feels more spacious than the square footage suggests.
- Community Amenities
Located in the Margarita Villas PUD, residents benefit from well-maintained community features including a pool, spa, and walking pathways.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =2178, other record lot size in square feet = 2000.
- High Association Fees
The monthly HOA fee of $465 is a significant recurring cost that may impact the overall affordability and debt-to-income ratio for buyers.
- Potential for Modernization
With original ownership since 1988, the property may require additional capital investment to update aesthetic finishes and aging systems to modern standards.
About 261 Via La Paz
OPEN Saturday, October 24th from 1:00 - 3:00. Welcome to Margarita Villas! A great Planned Unit Development community with pool, spa and pathways. This particular home has been originally owned since 1988. Home has been lovingly cared for throughout the years. The living room is roomy with south facing windows for natural light, high vaulted ceilings and with a cozy fireplace. The dining room is located just off the kitchen and the sliding glass doors lead to a private patio area. The kitchen has newer tile floors and the stainless applicances will be included. Upstairs you will find 2 primary suites with their own private baths. A must see.
Property Details
Public Facts
- Property Type
- Townhouse
- Year Built
- 1988
- Lot Size
- 2,178 Sq. Ft.
Interior
- Total Bedrooms
- 2
- 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 • 1.9 mi
7/10
San Luis Obispo High School
Grades 9-12 • 2.0 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 3.0 | 2.9 |
| Square foot | 1,341 | 1,582.556 |
| Lot Size | 2,178 | 1,805.667 |
| Price | $739.0K | $792.2K |
| Price per sq ft | $551 | $499 |
| Built year | 1988 | 2006 |
| HOA | $465.0 | $374 |
| Days on market | 23 | 59 |
Pricing History
Listed for Sale
Oct 1, 2026
$739,000
Initial Listing