$1,425,000

462 Islay Street, San Luis Obispo, CA 93401

  • 4 beds |
  • 4 baths |
  • 1,826 sqft
  • Property Icon Condominium
  • Property Year Built Icon Built in 1900
  • Property Lot Size Icon7,501sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $780/sqft
  • Property List Date Icon Listed 3 days ago

Property Description

Exceptional investment opportunity near downtown San Luis Obispo featuring three income-producing units on a spacious 7,500 square foot parcel. This versatile multi-family property offers a desirable mix of classic charm and newer construction, ideal for seasoned investors or owner-occupants. The front residence is a character rich 2-bedroom + office (or 3-bedroom), 1.25-bath single family home built circa 1900, offering 928 square feet of living space. The home offers a fenced front yard, charming porch, hardwood floors, and large bedrooms with 10 ceilings. Additional highlights include a walk-in pantry, indoor laundry and storage shed. The home is currently leased for $3,010/month. Situated at the rear of the property is two-story duplex built in 1990, totaling approximately 898 square feet. Each unit is a thoughtfully designed studio with a loft, providing efficient and flexible living space. Both studios have vaulted ceilings, under stair storage, a nicely sized kitchen, private patio/yard space and shared laundry. These studios are currently leased for $1,800/month and $1,850/month. There are (4) on site parking stall, (5) electric meters, (3) gas meters and (2) water meters, with potential for subdivision to separate the single family home and duplex onto their own parcels (verify with City planning). With strong in-place rental income and its highly desired location, this property presents excellent prospects for long-term appreciation or multi-generational living.

Listing Status:
Active
Date Added:
April 27, 2026
Data Last Updated:
April 30, 2026 at 8:12PM
Listing Office:
California Coastal Real Estate : 805-459-1865
Listing Agent:
Graham Updegrove : 805-459-1865
MLS ID:
SC26090036
  • Appliances: DishwasherDisposalRefrigeratorGas Oven
  • Flooring: CarpetWood
  • A/C: N/K
  • Heating: Wall/Gravity
  • Fireplace: N/K
  • General: N/K
  • Pool: N/K
  • Parking: AssignedParking spaces: 0
  • Roofing: Composition
  • General: 1
  • HOA Amenities: 0.0
  • Originating MLS: California Regional MLS
  • County: San Luis Obispo
  • Zoning: 003614023
  • View: Neighborhood
  • Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
  • Water: Public
  • Sewer: Public Sewer
  • Source: California Regional MLS

This listing courtesy of Graham Updegrove , California Coastal Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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