
San Luis Obispo, California 93401
This Iconic Downtown Asset is listed at $1,749,000, representing a strategic acquisition at a premium relative to its $1,585,306 Fair Market Value. Maintaining a Condition Rating of 4, the 1961 structure offers a significant Value-Add opportunity through modernization or full-scale development enabled by flexible R3 Zoning. Located directly across from the Old Mission in the San Luis Coastal Unified district, the property includes an attached studio, detached 2-car garage, and Mountain Views. This high-potential site is ideal for Savvy Developers or Portfolio Investors seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 975 Broad Street Subject | $1,749,000* List Price | 3 | 3 | 1,809 | $905 | - |
A 879 Islay Active | $1,449,900 List Price | 2 | 3 | 1,960 | $740 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1961, the property is well-maintained but retains most of its original vintage features, including dated wood kitchen cabinetry, laminate countertops, and a classic pink-tiled bathroom. While the home is functional and clean, the interior finishes, lighting fixtures, and appliances are aged and require modernization to meet current quality standards.
Situated in a high-profile, iconic spot directly across from the Old Mission and Mission Plaza, offering unparalleled walkability and visibility in the heart of San Luis Obispo.
The R3 zoning provides exceptional flexibility for future development, multi-unit potential, or investment opportunities in a highly desirable urban setting.
The property includes an attached studio and a detached 2-car garage, providing excellent options for guest quarters, a home office, or rental income.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Originally built in 1961, the home may require significant updates to its core systems and finishes to meet modern energy efficiency and luxury standards.
The central, high-visibility location near major landmarks and downtown attractions results in increased foot and vehicle traffic, which may impact privacy and noise levels.
Charming and inviting, this high-profile, iconic property offers a rare opportunity to own a single-level 2-bedroom, 1.5-bath home in one of downtown San Luis Obispo’s most coveted and recognizable locations. Originally built in 1961, the home blends timeless vintage charm with comfortable, everyday living. Ideally situated directly across from the Old Mission and adjacent to The San Luis Obispo County Historical Society Museum, it is just steps to the vibrant Mission Plaza and serves as a true gateway to downtown San Luis Obispo. An inviting covered porch sets the tone, offering the perfect spot to relax and take in the energy of this premier location. Inside, the thoughtfully designed layout showcases warmth and character, with light-filled living spaces that create a bright and welcoming atmosphere. The farmhouse-style kitchen serves as the heart of the home, featuring classic design elements, ample cabinetry, and a cozy, nostalgic feel that’s both functional and full of charm. An attached studio adds incredible versatility—ideal for guests, home office, or potential rental opportunity. A detached 2-car garage provides ample parking, storage, or workshop space in addition to plentiful off-street parking. Zoned R3, this property presents exceptional flexibility and potential in a premier downtown setting. Whether envisioned as a primary residence, investment property, or future development opportunity, the zoning allows for a variety of possibilities (buyer to verify with the City). Combined with its superb, high-visibility location and proximity to restaurants, shops, and cultural landmarks, this offering represents a truly outstanding opportunity to invest in one of San Luis Obispo’s most dynamic and desirable areas.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 1,809 | 1,811 | 49% |
| Lot Size | 5,000 | 5,935 | 39% |
| Price | $1.75M | $1.19M | 79% |
| Price per sq ft | $967 | $647 | 89% |
| Built year | 1961 | 2002 | 21% |
| HOA | $0 | $32 | 47% |
| Days on market | 33 | 188 | 2% |
Mar 20, 2026
$1,749,000
Initial Listing