452 Higuera Street, San Luis Obispo, California 93401, San Luis Obispo, 93401 - 10 bed, 4 bath
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San Luis Obispo, California 93401
Analysis of 452 Higuera Street, San Luis Obispo, California 93401 is currently available with a list price of $2,750,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the San Luis Obispo Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
Built in 1901 and marketed explicitly as a development opportunity where the value is in the land; the highest and best use is for a new high-density project rather than the existing structures.
Zoned CR Retail Commercial with a high-density allowance of up to 36 units per acre, this creekside property is perfectly positioned for a premier mixed-use or multi-family urban infill project.
Located in the absolute heart of Downtown San Luis Obispo, the property offers future residents unparalleled access to vibrant shops, offices, and restaurants in a highly sought-after corridor.
A professional feasibility study by RRM Design Group is already complete, providing a clear roadmap for either 11 luxury townhomes or a 20-unit complex, significantly accelerating the development timeline.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =25700, other record lot size in square feet = 10822. Living area discrepancy between mls listing and other public or private record. mls listing living area = 4266, other record living area = 1218.
The current residential units date back to 1901, likely requiring significant maintenance or costly demolition to clear the way for the site's highest and best use.
With a list price of $2.75M based on land value, the project requires substantial upfront investment and additional capital for complex urban development and construction.
An extraordinary development opportunity awaits in the heart of Downtown San Luis Obispo at 452 Higuera Street. This rare, creekside property spans two adjacent APNs and represents a premier acquisition for developers, contractors, and investors looking to capitalize on a highly prized location. While the site currently features four income-generating residential units (three 3-bedroom/1-bathroom homes and one 1-bedroom/1-bathroom home), the true value of this offering is in the land and its highest and best use as a high-density, mixed-use project. Zoned CR Retail Commercial and allowing for up to 36 density units per acre, the lot is perfectly positioned to support the City of SLO’s long-term initiative for urban infill housing. Future residents will enjoy a vibrant lifestyle in the absolute center of downtown, surrounded by thriving shops, offices, and restaurants. To fast-track your development plans, a professional feasibility study by RRM Design Group has already been completed, highlighting two lucrative pathways: a boutique 11-unit luxury for-sale townhome development, or a higher-density 20-unit condo or apartment complex. Opportunities in this tightly held downtown corridor are exceptionally rare—bring your vision to this premier location and shape the future of San Luis Obispo.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 10.0 | 5.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 4,266 | 1,666 |
| Lot Size | 25,700.4 | 7,500 |
| Price | $2.75M | $910.0K |
| Price per sq ft | $645 | $546 |
| Built year | 1901 | 1910 |
| HOA | $0 | $0 |
| Days on market | 36 | 171 |
Jun 16, 2026
$2,750,000
Initial Listing