3202 Rockview Place, San Luis Obispo, California 93401, San Luis Obispo, 93401 - 4 bed, 5 bath
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San Luis Obispo, California 93401
This Versatile Multi-Unit Property is a High-Potential Investment Opportunity, listed at $1,425,000—positioned well below the $1,471,352 Fair Market Value by 3%. This valuation gap provides $46,352 in Instant Equity. Built in 2006, the property holds a Good Condition Rating and features two detached homes on an R2-zoned lot, offering rare dual-income potential. Residents enjoy South Hills mountain views, a seasonal creek, and proximity to the San Luis Coastal Unified district. This is an ideal acquisition for Owner-Occupants looking to offset a mortgage or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3202 Rockview Place Subject | $1,425,000* List Price | 4 | 5 | 2,453 | $600 | - |
A 527 Stoneridge Sold | $1,215,000 | 4 | 3 | 2,244 | $541 | 0.3 mi |
B 2904 Johnson Avenue Sold | $1,445,000 | 3 | 4 | 2,365 | $611 | 0.9 mi |
C 3156 Johnson Ave Sold | $1,704,000 | 4 | 5 | 2,942 | $579 | 1.0 mi |
D 3204 Rockview Place Active | $1,485,000 List Price | 5 | 4 | 2,388 | $622 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 2006, this 18-year-old property fits the 'Good' criteria perfectly. Both detached units feature functional, original kitchens and bathrooms that appear well-maintained and move-in ready. While the finishes (white cabinetry, tile flooring, and appliances) are consistent with the mid-2000s construction era and lack recent modern updates, the systems and overall structure are within their expected functional lifespan.
The property features two separate detached homes on an R2-zoned lot, offering exceptional flexibility for rental income, multi-generational living, or offsetting a mortgage.
Built in 2006, these residences are significantly newer than much of the local housing stock, likely reducing immediate maintenance costs and offering more contemporary layouts.
Ideally situated near downtown San Luis Obispo with views of the South Hills and a seasonal creek, the property combines natural beauty with convenient urban access.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =8642, other record lot size in square feet = 7674. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2453, other record living area = 1571. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Both units are currently occupied by tenants, which may complicate immediate possession for owner-occupants and limits flexibility for property showings.
With two detached homes and associated parking on an 8,642 sq ft lot, private outdoor yard space is relatively limited compared to traditional single-family properties.
Versatile investment opportunity in a desirable San Luis Obispo location — two separate detached homes on an R2-zoned lot totaling 8,642 sq ft. Whether you're an investor, a buyer looking to live in one unit while offsetting your mortgage with the other, or someone in need of flexible multi-generational housing, this property delivers options. 3200 Rockview Place – Front Home | 952 Sq Ft This charming two-story home features a one-bedroom suite and full bathroom on the lower level, complete with laundry hookups. The upper level opens to a bright space with a combined living room, dining area, and kitchen, plus a convenient half bath. Step through the sliding glass door onto the private upper balcony. A covered carport sits beneath the balcony, with additional street parking available. A welcoming front patio provides views of the South Hills. 3202 Rockview Place – Back Home | 1,501 Sq Ft Head down the driveway to this two-story, 3-bedroom + office/den that's being used as a 4th bedroom, 2.5-bathroom home with a 2-car garage and two additional off-street parking spaces. The main level features open-concept living with a kitchen, dining, and living area. Office/den and half bath are also on the main level, along with a laundry room and garage access. Slide open the glass door to a concrete patio overlooking a seasonal creek. Upstairs, the primary suite with full bathroom is joined by two additional bedrooms and a second full bathroom. Both homes are fully landscaped and currently tenant-occupied — please do not disturb occupants. Conveniently located with easy access to Broad Street and the heart of downtown SLO. The neighboring property at 3204 Rockview Place is also available for sale, presenting a rare opportunity to expand your portfolio further. Information deemed reliable but not verified. Buyer to verify all details.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 71% |
| Baths | 5.0 | 3.0 | 93% |
| Square foot | 2,453 | 1,811 | 74% |
| Lot Size | 8,642 | 6,000 | 78% |
| Price | $1.43M | $1.19M | 64% |
| Price per sq ft | $581 | $645 | 27% |
| Built year | 2006 | 2003 | 52% |
| HOA | $0 | $32 | 47% |
| Days on market | 2 | 188 | 1% |
Apr 20, 2026
$1,425,000
Initial Listing