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!
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!
Property Details
Price:
$1,295,000
MLS #:
SC25180078
Status:
Active
Beds:
5
Baths:
3
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
slosanluisobispo
Listed Date:
Aug 8, 2025
Finished Sq Ft:
1,953
Lot Size:
7,500 sqft / 0.17 acres (approx)
Year Built:
1925
See this Listing
Schools
School District:
San Luis Coastal Unified
Interior
Appliances
Gas Oven, Gas Range, Refrigerator
Bathrooms
3 Full Bathrooms
Cooling
None
Flooring
Carpet, Vinyl
Heating
Central
Laundry Features
Inside
Exterior
Community Features
Sidewalks
Parking Features
Driveway, Concrete
Parking Spots
2.00
Financial
Map
Community
- Address1143 Walnut Street San Luis Obispo CA
- NeighborhoodSLO – San Luis Obispo
- CitySan Luis Obispo
- CountySan Luis Obispo
- Zip Code93401
Market Summary
Current real estate data for Single Family in San Luis Obispo as of Sep 05, 2025
94
Single Family Listed
98
Avg DOM
762
Avg $ / SqFt
$2,052,775
Avg List Price
Property Summary
- 1143 Walnut Street San Luis Obispo CA is a Single Family for sale in San Luis Obispo, CA, 93401. It is listed for $1,295,000 and features 5 beds, 3 baths, and has approximately 1,953 square feet of living space, and was originally constructed in 1925. The current price per square foot is $663. The average price per square foot for Single Family listings in San Luis Obispo is $762. The average listing price for Single Family in San Luis Obispo is $2,052,775. To schedule a showing of MLS#sc25180078 at 1143 Walnut Street in San Luis Obispo, CA, contact your Outland and Associates Real Estate agent at 8054813939.
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Courtesy of Farrell Smyth Real Estate. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.1143 Walnut Street
San Luis Obispo, CA