504 Cuesta Drive, San Luis Obispo, California 93405, San Luis Obispo, 93405 - 4 bed, 3 bath
504 Cuesta Drive
San Luis Obispo, California 93405
Property Price
SUMMARY
Analysis of 504 Cuesta Drive, San Luis Obispo, California 93405 reveals a Fairly Priced Property with a current list price of $1,215,000 aligned with the estimated $1,245,974 Fair Market Value. This represents a stable investment opportunity at market rate. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. 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 both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Estimated Market Value
Comparable Sales Map
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 504 Cuesta Drive Subject | $1,215,000* List Price | 4 | 3 | 1,578 | $790 | - |
A 321 Jeffrey Drive Sold | $1,130,000 | 3 | 3 | 1,450 | $779 | 0.2 mi |
B 24 Verde Drive Sold | $1,230,000 | 3 | 2 | 1,633 | $753 | 0.4 mi |
C 87 E Foothill Sold | $994,000 | 4 | 2 | 1,318 | $754 | 0.6 mi |
D 644 Jeffrey Drive Sold | $1,350,000 | 3 | 2 | 1,807 | $747 | 0.3 mi |
E 133 N Tassajara Drive Sold | $1,071,000 | 3 | 3 | 1,694 | $632 | 0.3 mi |
F 165 Cerro Romauldo Avenue Sold | $1,140,000 | 4 | 2 | 1,420 | $803 | 0.4 mi |
G 550 Highland Active Under Contract | $1,400,000 List Price | 4 | 2 | 1,891 | $740 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
OVERALL CONDITION SCORE
Property is move-in ready.
The property is move-in ready and underwent an extensive remodel in 2014, which falls within the 5 to 15-year renovation window for a 'Good' rating. It features an updated kitchen with stainless steel appliances, wood flooring, and a modernized primary suite bathroom. Major systems appear well-maintained, including a brand-new sewer lateral, though the finishes are approximately a decade old.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Investment Location
Situated in the desirable Ferrini Heights neighborhood directly next to a Cal Poly bus stop and campus, this property offers unparalleled demand for student housing and guaranteed rental income through June 2026.
- Modernized Infrastructure
The home features significant updates including a 2014 remodel, an updated kitchen with stainless steel appliances, and a brand-new sewer lateral, ensuring lower maintenance costs for the investor or homeowner.
- Scenic Outdoor Living
The property boasts a large redwood deck and a backyard with fruit trees and garden beds, all set against the stunning and highly sought-after backdrop of Bishop Peak views.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1578, other record living area = 1140. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Delayed Occupancy
The existing lease through mid-2026 makes this property unsuitable for owner-occupants looking for a primary residence to move into immediately.
- Compact Floor Plan
With four bedrooms and three bathrooms packed into 1,578 square feet, the individual room dimensions and common areas may feel small or congested for larger groups.
About 504 Cuesta Drive
Located in the highly desirable Ferrini Heights neighborhood, this property presents an exceptional investment opportunity for those seeking student housing near Cal Poly, or as a primary home near top elementary schools and nearby ammenities! Directly next to the convenient Cal Poly bus stop and a stone's throw from campus, this 4-bedroom, 3-bathroom single-level home is currently leased through June 15, 2026 and offers immediate rental income and long-term potential. Key highlights include a spacious and open layout with wood flooring, a large primary suite with newer bathroom, an updated kitchen with stainless-steel appliances, a dedicated laundry room, and a 2-car attached garage providing ample storage. The property also boasts practical updates, including a brand-new sewer lateral and a 2014 remodel, ensuring low-maintenance ownership. The outdoor space is another standout feature, with a large redwood deck, grassy backyard, fruit trees, and garden beds. All of this is set against the stunning backdrop of Bishop Peak, offering breathtaking views that make every day feel special. With its prime location, modern updates, and established lease in place, this property could be a smart choice for investors looking to capitalize on the strong demand for student housing in San Luis Obispo!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1958
- Lot Size
- 6,950 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,578 | 2,133 | 27% |
| Lot Size | 6,950 | 7,240 | 49% |
| Price | $1.22M | $1.23M | 47% |
| Price per sq ft | $770 | $632 | 78% |
| Built year | 1958 | 1965 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 157 | 2% |
Pricing History
Listed for Sale
Mar 2, 2026
$1,215,000
Initial Listing
Sold
Feb 19, 2014
$541,500
Public Record
Sold
Dec 15, 2011
$325,000
Public Record