
Atascadero, California 93422
This Historic Craftsman Residence represents a unique High-Potential Investment Opportunity, listed at a List Price of $1,095,000—positioned above the $989,299 Fair Market Value. While priced at a premium, the property features a Condition Rating of 3, blending historic character with a modern farmhouse kitchen and a licensed short-term rental studio. The nearly one-acre lot provides significant utility, including a detached garage and workshop. This property is an ideal acquisition for Buy-and-Hold Investors seeking income-generating assets or Owner-Occupants desiring a flexible, historic lifestyle property.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3155 El Camino Real Subject | $999,000* List Price | 4 | 2 | 1,874 | $480 | - |
A 3855 Colima Sold | $860,000 | 3 | 2 | 2,158 | $399 | 0.4 mi |
B 3175 Arena Sold | $875,000 | 3 | 3 | 2,216 | $395 | 0.4 mi |
C 5605 Marco Lane Sold | $990,000 | 3 | 2 | 2,327 | $425 | 0.3 mi |
D 3270 Arena Sold | $892,500 | 3 | 2 | 1,978 | $451 | 0.4 mi |
E 3388 Ramona Sold | $855,000 | 3 | 2 | 2,156 | $397 | 0.5 mi |
F 2450 Ferrocarril Sold | $970,000 | 3 | 2 | 1,840 | $527 | 0.9 mi |
G 3925 Arena Active | $885,000 List Price | 3 | 2 | 1,321 | $670 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1918, the home has undergone a thoughtful renovation that includes an updated kitchen with soapstone counters and a farmhouse sink, refinished hardwood floors, and a separate guest studio. The property is well-maintained, functional, and move-in ready, balancing historic character with modern updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 38768, living area = 1874.
As an original 1918 Atascadero Colony home, the property features meticulously preserved Craftsman details, including refinished hardwood floors and a wraparound sunporch, paired with a modern farmhouse-style kitchen.
The property includes a private, detached guest studio with its own entrance and kitchenette that is already a licensed short-term rental, providing immediate income potential or flexible multi-generational living.
Given the home's 1918 construction, buyers should anticipate the ongoing maintenance requirements and potential system updates inherent in managing a century-old historic residence.
At a list price of over $1M for 1,874 square feet, the property sits at a high price-per-square-foot point, which may be a hurdle for buyers seeking more interior living space for their investment.
Built in 1918, this home is a genuine piece of Atascadero's founding history, one of the original residences constructed during the early years of Atascadero Colony, the utopian planned community founded in 1913 by E.G. Lewis on the former Rancho Atascadero. Now more than 100 years old, the main house has been thoughtfully renovated while preserving its Craftsman era character: refinished hardwood floors, a wood burning stove tucked into a corner nook, a wraparound sunporch, and a kitchen updated with a farmhouse sink, soapstone counters, glass front cabinetry, and a breakfast bar. Four bedrooms, a basement for extra storage, and rich period detail throughout. A private, separate guest studio offers its own entrance, kitchenette, and bath, a true second living space ideal for extended family, a home office, or guests. The studio is a licensed short term rental, offering income potential for the right buyer. The detached two car garage adds even more room to work, store, or create, situated apart from the main house for privacy, along with a separate workshop and storage shed for all the extra space a buyer could want. And then there's the land: nearly an acre of usable, fenced and gated grounds, with mature native trees, a wrought iron garden arbor, brick pathways, sweeping views, and easy access both north and south. House, studio, garage, and grounds each bring something special to this one historic Colony address, a rare chance to own an original piece of Atascadero's founding era with all the flexibility today's buyers want.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 2.0 | 2.3 |
| Square foot | 1,874 | 1,967.678 |
| Lot Size | 38,768 | 39,579.077 |
| Price | $999.0K | $856.1K |
| Price per sq ft | $533 | $461 |
| Built year | 1918 | 1989 |
| HOA | $0 | $211 |
| Days on market | 70 | 53 |
Aug 15, 2026
$999,000
$1,095,000
-9% Price Drop
Initial Listing
Jul 1, 2026
$1,095,000
Initial Listing
Dec 21, 2017
$670,909
Public Record