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:
$1,095,000
MLS #:
SC25180078
Status:
Pending
Beds:
5
Baths:
3
Type:
Single Family
Subtype:
Single Family Residence
Neighborhood:
slosanluisobispo
Listed Date:
Feb 5, 2026
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
RF, GO, GR
Bathrooms
3 Full Bathrooms
Cooling
NO
Flooring
VINY, CARP
Heating
CF
Interior Features
CF
Laundry Features
IN
Levels
U
Main Level Bathrooms
3
Main Level Bedrooms
3
Exterior
Accessibility Features
NO
Common Walls
NCW
Community Features
SDW
Garage Spaces
2
Parking Spots
2
Parking Total
2
Patio And Porch Features
WOD, POF
Spa Features
NO
View
NO
Financial
Map
Community
- Address1143 Walnut ST San Luis Obispo CA
- CitySan Luis Obispo
- CountySan Luis Obispo
- Zip Code93401
Subdivisions in San Luis Obispo
Market Summary
Current real estate data for Single Family in San Luis Obispo as of Apr 23, 2026
291
Single Family Listed
127
Avg DOM
614
Avg $ / SqFt
$956,572
Avg List Price
Property Summary
- 1143 Walnut ST San Luis Obispo CA is a Single Family for sale in San Luis Obispo, CA, 93401. It is listed for $1,095,000 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 $561. The average price per square foot for Single Family listings in San Luis Obispo is $614. The average listing price for Single Family in San Luis Obispo is $956,572.
Similar Listings Nearby
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 The California Company include the name of the listing broker. Neither the listing company nor The California Company 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 2026. California Regional Multiple Listing Service. All rights reserved. 1143 Walnut ST
San Luis Obispo, CA
