
San Luis Obispo, California 93401
An exciting opportunity to acquire a sizable infill parcel in San Luis Obispo with potential for future redevelopment. Zoned R-2, this property offers possibilities for investors, builders, and developers seeking land in an established residential area. The existing residence dates to approximately the 1920s, with the primary value in the land. The underlying zoning may provide flexibility for future parcel division or redevelopment, subject to City requirements and approval. Potential development may require additional site improvements and infrastructure. Buyers are encouraged to independently verify zoning, permitted uses, parcel division potential, and development feasibility with the City of San Luis Obispo. Conveniently located near neighborhood shopping, grocery stores, restaurants, parks, and other everyday amenities, the property also offers access to downtown San Luis Obispo, Cal Poly, and major local routes. Enjoy the appeal of an established neighborhood with convenient connections to employment, education, recreation, and the broader Central Coast lifestyle.
Property is land value only, full reconstruction required.
The property was built in 1920 (>100 years old) with no evidence of significant renovations. The listing description explicitly states the 'primary value is in the land' and focuses on 'future redevelopment' and 'infill parcel' potential. Exterior images show a dilapidated structure and detached garage in poor condition, meeting the criteria for land value only.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13625, living area = 1272.
The R-2 zoning combined with a generous 13,625 sqft lot provides a rare infill opportunity for parcel division or multi-unit redevelopment in a high-demand residential area.
Ideally situated near Cal Poly, downtown San Luis Obispo, and major amenities, the property offers excellent connectivity to employment hubs and educational institutions.
The property was recently sold within the past year on 2025-11-12. The sold price is $635,000.00.
The existing 1920s structure holds minimal value and likely requires a complete teardown or significant capital expenditure to address its dated condition.
Realizing the property's full potential requires navigating city approvals and potentially costly site improvements, including infrastructure upgrades and parcel division requirements.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.1 |
| Baths | 1.0 | 3.0 |
| Square foot | 1,272 | 1,906.09 |
| Lot Size | 13,625 | 6,523.766 |
| Price | $735.0K | $1.28M |
| Price per sq ft | $578 | $683 |
| Built year | 1920 | 1986 |
| HOA | $0 | $86 |
| Days on market | 8 | 49 |
Oct 16, 2026
$735,000
Initial Listing
Nov 12, 2025
$635,000
Public Record