Active Open Saturday 06/13 2 PM-5 PM

1023 Walnut St

San Luis Obispo, CA 93401

$999,000 $4,211/Mo

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Overview

Bed

Bath

1,400

Sqft

5,054

Sqft(Lot)

Description

Whether you're looking for a smart investment, a place to live with rental income, or housing for a Cal Poly student, this charming duplex offers flexibility and opportunity in one attractive package. This property is located 4 blocks from downtown San Luis Obispo, conveniently close to highway 101 access, and Cal Poly. The front residence has been thoughtfully updated with a bright, open floor plan, modern finishes, and a fresh, contemporary feel. The remodeled kitchen opens seamlessly to the living space and features white cabinetry, updated countertops, and a large peninsula perfect for casual dining or entertaining. A beautifully renovated bathroom includes a spacious walk-in tiled shower, while the private deck provides a peaceful spot to enjoy your morning coffee, unwind in the eveni ng, or take in the surrounding hillside views. The second unit offers its own distinct character and comfortable living space, creating excellent potential for rental income, guest accommodations, or multi-generational living. This unit features original hardwood floors, wood paneling, and several windows for lots of natural light. Separate outdoor areas give each residence a sense of privacy and independence. This property is set on a generously sized lot with off-street parking, mature landscaping, and multiple outdoor gathering spaces. The gross projected rental income is $52,800 annually based upon rent of $2200 per unit. Each unit has access to a garage and their own washer and dryer. This structure could be converted into an ADU for even more rental income potential. Check with the city for future development opportunities. The versatile layout allows future owners to maximize income, offset mortgage costs, or simply enjoy the benefits of owning a property with built-in flexibility. This is an investment opportunity with updated living spaces, private outdoor areas, and endless possibilities for both investors and owner-occupants alike.

Property Details

Property Type : Residential Income

Price : $999,000

AD Id : 83739527

MLS Id : SC26124777

Beds : 2

Lot Size : 5,054 Sqft

Living Area Size : 1,400

Year Built : 1948

Garage : 2

County : San Luis Obispo

Open House

06/13 2 PM-5 PM

Map

What's Nearby

Nearby Areas

Features

Water/Sewer

Water Source: Public Sewer: Public Sewer
Interior Features

Roof: Asbestos Shingle Interior Features: Ceiling Fan(s),All Bedrooms Down Property Appliances: Gas Range,Microwave,Refrigerator Fireplace: None Flooring: Vinyl,Wood
Cooling Features

None Air Conditioning

Heating Source

Wall Furnace Has Heating

Fireplace

Fireplace Features: None Has Fireplace: 0

Building Information

Year Built: 1948 Building Area Total: 1,400 Roof: Asbestos Shingle
Foundation

Raised
Accessibility Features

Parking

Pool Features

None

Laundry Features

In Garage

Fencing

Wood

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.116
Lot Size Source: Public Records Lot Size Square Feet: 5054

Listing Price Information

Original List Price: 999,000 Listing Contract Date: 2026-05-07
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 002313005

Garage and Parking

Garage Description: Driveway

Homeowners Association
Rental Info

Lease Term: Negotiable Tenant Pays: Electricity,Gas,Water

Other Property Info

Source Listing Status: Active Source Neighborhood: SLO - San Luis Obispo Directions: From US-101, take the Marsh Street/Downtown exit. Follow Marsh Street toward downtown, turn right on Osos Street, left on Pacific Street, and right on Walnut Street. Zoning: O Source Property Type: Residential Income Area: SLO - San Luis Obispo Property SubType: Duplex
Building and Construction

Property Age: 78 Common Walls: 1 Common Wall Structure Type: Duplex Year Built Source: Estimated Entry Location: Ground Property Attached: Yes Levels or Stories: One Building Total Stories: 1

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ByOwner last updated this listing 06/12/2026 @ 13:25

MLS: SC26124777 LISTED BY: Owen Schwaegerle, The Schwaegerle Team 805-776-3036 SOURCE: CRMLS