1143 Walnut Street San Luis Obispo CA 93401 MLS #SC25180078

  1. ca
  2. san-luis-obispo
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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&#39'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

Schools

School District:
San Luis Coastal Unified

Interior

Accessibility Features
None
Appliances
Gas Oven, Gas Range, Refrigerator
Cooling
None
Fireplace Features
None
Flooring
Carpet, Vinyl
Heating
Central
Interior Features
Ceiling Fan(s)

Exterior

Community Features
Sidewalks
Garage Spaces
2.00
Lot Features
Sloped Down, Front Yard, Yard
Parking Features
Driveway, Concrete
Parking Spots
2.00
Pool Features
None
Sewer
Public Sewer
Spa Features
None
Stories Total
2
View
None
Water Source
Public

Financial

Association Fee
0.00
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

San Luis Obispo Neighborhoods

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.
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