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$1,295,000

Est. payment - /mo

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5 Beds

3 Baths

1,953 SqFt

Active

1143 Walnut ST San Luis Obispo, CA 93401

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Chris Mardelli

chris@therealupside.com +1(310) 571-5761

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Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,953 sqft

Price per Sqft $663

MLS Listing ID SC25180078

Bedrooms 5

Full Baths 3

Construction Status Fixer

HOA Y/N No

Year Built 1925

Lot Size 7,501 Sqft

Property Sub-Type Single Family Residence

Property Description

Investment Opportunity in Prime San Luis Obispo Location – R2 Lot with Expansion Potential! Unlock the possibilities with this centrally located property just minutes from downtown San Luis Obispo and convenient freeway access. Situated on an R2-zoned lot, this unique investment opportunity features a spacious 4-bedroom, 2-bathroom main house built in 1925, plus a detached 1-bedroom, 1-bathroom ADU built in 1938 - ideal for rental income, multi-generational living, or future development.
Both units are currently rented, providing immediate cash flow for investors. The property offers flexible living arrangements and strong rental potential, with ample space to reconfigure, upgrade, or expand. Whether you're looking to add units, renovate, or build out, the R2 zoning opens doors for creative growth (buyer to verify all plans and zoning with the city).
Enjoy the benefits of a downtown neighborhood near shops, restaurants, parks, and public transit. With income already in place and zoning that supports future development, this property is a smart addition to any portfolio. Explore the upside potential and make your move in one of SLO's most desirable investment corridors.
Don't miss out—schedule a viewing and explore the potential today!

Location

State CA

County San Luis Obispo

Area Slo - San Luis Obispo

Zoning R2

Rooms

Main Level Bedrooms 3

Interior

Interior Features Ceiling Fan(s), Utility Room

Heating Central

Cooling None

Flooring Carpet, Vinyl

Fireplaces Type None

Fireplace No

Appliance Gas Oven, Gas Range, Refrigerator

Laundry Inside

Exterior

Parking Features Concrete, Driveway

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Sidewalks

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N No

View None

Accessibility None

Porch Front Porch, Wood

Total Parking Spaces 2

Private Pool No

Building

Lot Description Sloped Down, Front Yard, Yard

Dwelling Type House

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Fixer

Schools

School District San Luis Coastal Unified

Others

Senior Community No

Tax ID 002315006

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard, Trust

Virtual Tour https://1143walnut.com/idx

Listed by Jennifer Hamilton Farrell Smyth Real Estate jennifer@farrellsmyth.com

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