785 Pepper, San Luis Obispo, California 93401, San Luis Obispo, 93401 - 3 bed, 2 bath
785 Pepper
San Luis Obispo, California 93401
Property Price
SUMMARY
Analysis of 785 Pepper, San Luis Obispo, California 93401 is currently available with a list price of $890,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. 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.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
This 1915-built duplex is maintained and habitable but shows significant signs of age. While the studio recently received a new roof, the interior photos reveal dated kitchen cabinetry, older white appliances, and basic bathroom fixtures that lack modern updates. The property is functional for rental purposes but requires cosmetic and system modernization to address its century-old construction and outdated aesthetic.
PROSSTRENGTHS & OPPORTUNITIES
- Dual Income Potential
This duplex configuration, featuring a 2-bedroom main house and a detached studio, offers immediate cash flow with both units currently occupied and professionally managed.
- Prime Old-Town Location
Situated in the highly desirable railroad area of San Luis Obispo, the property benefits from high rental demand and proximity to downtown amenities.
- Enhanced Tenant Amenities
Rare for the area, both units provide off-street parking and private fenced yards, significantly increasing the property's marketability and tenant retention.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 994, other record living area = 598. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
- Historic Maintenance Requirements
Built in 1915, the property's age may necessitate ongoing investments in structural updates and modernization of century-old utility systems.
- Limited Interior Square Footage
With a total estimated area of 994 square feet split between two units, the living spaces are quite compact, which may limit the pool of prospective long-term tenants.
About 785 Pepper
Old-town SLO railroad-area duplex, near corner of Mill and Peach Streets. Property parcel includes 2 brm, 1 bath home and detached studio home, both with off-street parking. Front house has picket fence front yard with pomegranate tree and fully fenced rear yard. Detached studio has a generous front porch and 2 yards, and recently installed roof replacement. Unit sizes are estimates, and square footage for assessor may be different than actual total area of units. Property professionally managed, both units are occupied. Photos reflect most recent time of vacancy, inspection reports reflect current condition. Ask your agent about available property documents, including detailed income and expense info. Seller will consider buyer concessions. *Please do not disturb occupants*
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1915
- Lot Size
- 4,000 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 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 | 3.0 | 4.0 | 50% |
| Baths | 2.0 | 3.0 | 50% |
| Square foot | 994 | 2,694 | 25% |
| Lot Size | 4,000 | 7,134 | 25% |
| Price | $890.0K | $1.58M | 25% |
| Price per sq ft | $895 | $648 | 75% |
| Built year | 1915 | 1925 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 120 | 112 | 75% |
Pricing History
Listed for Sale
Feb 26, 2026
$890,000
Initial Listing
Price Change
Nov 7, 2025
$895,000
Initial Listing
Sold
Aug 24, 1994
$95,000
Public Record