
San Luis Obispo, California 93405
This Spacious Custom Residence represents a High-Potential Investment Opportunity, listed at $1,949,000—positioned above the $1,855,256 Fair Market Value. While currently priced for the market, the property offers significant upside through its Versatile Living Configuration, including a lower-level suite with a kitchenette. With a Condition Rating of 4, the home provides a solid foundation for modernization. Its Prime University Proximity adjacent to Cal Poly and Creekside Setting with mountain views make this an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking long-term value.
Property is moderate renovation needed.
Built in 1988 and owned by the original owners, the home is well-maintained but features original 38-year-old finishes. The kitchen and bathrooms are significantly dated with 1980s-style cabinetry and tile, requiring modernization, though the structure appears functional and move-in ready.
Located directly adjacent to Cal Poly, this property offers unparalleled access for students or faculty and represents a high-demand investment opportunity in a premium location.
The floor plan includes a lower-level suite with a kitchenette, full bath, and separate entrance, providing excellent flexibility for multigenerational living or rental income.
Situated on a creekside lot with mature trees and views of Bishop Peak, the home offers a rare blend of privacy and scenic beauty within an urban environment.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =10890, other record lot size in square feet = 10775.
Built in 1988 and held by the original owners, the interior may require cosmetic updates and system modernizations to meet current luxury market standards.
The immediate proximity to the university campus can lead to increased foot traffic, noise, and parking challenges, potentially impacting residential tranquility.
It’s hard to get much closer to Cal Poly than this. Located directly adjacent to campus, this approximately 3,200 square foot custom home offers an incredible combination of space, flexibility, parking, and location in the heart of San Luis Obispo. Owned by the original owners since it was built, the home features soaring ceilings, an abundance of natural light, hardwood floors, a fireplace, and a layout that opens to multiple decks and outdoor living areas. Surrounded by mature trees, the property feels surprisingly private given its proximity to campus. Enjoy views of Bishop Peak and Madonna Mountain from the upper deck, while a year round creek winds through the backyard below, creating a peaceful setting that feels worlds away from its convenient in town location. The floor plan includes three bedrooms plus a large lower level fourth bedroom or bonus space with its own kitchenette, full bathroom, and separate exterior access. This flexible configuration opens the door to a variety of uses, including multigenerational living, guest quarters, a private home office, or additional living space. The location and layout also make this an especially compelling investment opportunity. With Cal Poly just steps away, the home is ideally positioned for student housing or those wanting immediate access to campus. A two car garage plus on street residential parking permits add significant convenience in an area where parking is at a premium. With a versatile floor plan, creekside setting, mountain views, multiple outdoor living spaces, and an unbeatable location next to Cal Poly, this is a property with tremendous potential. Move in and enjoy it as it is, update it over time, or reimagine the spaces to fit your needs.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.1 |
| Baths | 4.0 | 3.0 |
| Square foot | 3,200 | 1,868.778 |
| Lot Size | 10,890 | 6,365.978 |
| Price | $1.85M | $1.27M |
| Price per sq ft | $578 | $676 |
| Built year | 1988 | 1986 |
| HOA | $0 | $91 |
| Days on market | 30 | 49 |
Aug 26, 2026
$1,850,000
$1,949,000
-5% Price Drop
Initial Listing
Aug 10, 2026
$1,949,000
Initial Listing