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687 Islay , 1-9

San Luis Obispo, CA 93401
  • $3,900,000
  • STATUS: Active
  • ON SITE: 23 Days
  • ID#: SC26013167
$3,900,000
  • 0
    BEDS
  • 0.48
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1895
County:

School Ratings & Info

Listing Agent(s): Linda Wilson of Central Coast Sotheby's International Realty (805-781-6040) and Aimee Edsall of Central Coast Sotheby's International Realty(805-781-6040)


Description

Built in 1895, this iconic Historic Victorian residence sits on one of downtown San Luis Obispo’s most prominent properties. Restored over the past 50 years, the residence is set on nearly a half-acre of usable land and currently features nine residential units, including three one-bedroom residences and six studio units with lofts. The property also includes nine outbuildings used as garages, storage, a bicycle garage, social room, and laundry facility.Historic character is preserved through ornate Victorian detailing, original redwood built with Douglas fir accents, soaring 12-foot ceilings, and expansive windows, while offering modern conveniences throughout. A large basement, park-like grounds, patio areas, and barbecue space enhance the property’s appeal.In addition to its existing income-producing layout, the property offers potential for future expansion and increased density, subject to local zoning and planning approvals. Development flexibility may allow for additional units or alternative configurations, presenting a rare opportunity for investors and owner-users alike.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2026-03-09T00:26:11.347. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Equity Union. Licensed in the State of California, USA.
www.kennyrealestategroup.com/homes/173039479
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687 Islay , 1-9 San Luis Obispo, CA 93401

  • Price: $3,900,000
  • Status: Active
  • On Site: 23 Days
  • ID#: SC26013167
0
Beds
0
Baths
0
½ Baths
0.48
Acres
1895
Built
Neighborhood:
San Luis Obispo(380)
County:
San Luis Obispo
Area:
SLO - San Luis Obispo
Property Description
Built in 1895, this iconic Historic Victorian residence sits on one of downtown San Luis Obispo’s most prominent properties. Restored over the past 50 years, the residence is set on nearly a half-acre of usable land and currently features nine residential units, including three one-bedroom residences and six studio units with lofts. The property also includes nine outbuildings used as garages, storage, a bicycle garage, social room, and laundry facility.Historic character is preserved through ornate Victorian detailing, original redwood built with Douglas fir accents, soaring 12-foot ceilings, and expansive windows, while offering modern conveniences throughout. A large basement, park-like grounds, patio areas, and barbecue space enhance the property’s appeal.In addition to its existing income-producing layout, the property offers potential for future expansion and increased density, subject to local zoning and planning approvals. Development flexibility may allow for additional units or alternative configurations, presenting a rare opportunity for investors and owner-users alike.
Exterior Features

Architectural Style Victorian Construction Materials Lap SidingRedwood SidingWood Siding Entry Level 1 Entry Location front Exterior Features Lighting Fencing Wood Foundation Details Concrete PerimeterRaisedStone Lot Features Back YardCorner LotFront YardGardenLawnStreet LevelWalkstreetYard Number Of Separate Electric Meters 10 Open Parking Spaces 9 Other Structures OutbuildingShed(s)StorageWorkshop Parking Features Driveway LevelDoor-SingleDrivewayGarageOff SiteOn SiteGarage Faces SideSide By SideUnassignedUnpaved Parking Total 15 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof CompositionShingle Spa Features None Spa YN No View City LightsHillsNeighborhood View YN Yes

Interior Features

Accessibility Features None Appliances DishwasherGas RangeRefrigeratorWater Heater Basement YN Yes Cooling None Cooling YN No Door Features Double Door EntryPanel DoorsSliding Doors Fireplace Features Free StandingGas Fireplace YN Yes Flooring CarpetWood Heating Fireplace(s)Natural GasWood Stove Heating YN Yes Interior Features Built-in FeaturesCeiling Fan(s)High CeilingsLaminate CountersPaneling/WainscotingStorageAtticEntrance Foyer Window Features Bay Window(s)ScreensSkylight(s)Wood Frames

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest Community Apartment Community Features BikingStorm Drain(s)Street LightsUrban Current Financing Conventional Disclosures Historical Electric Electricity - On Property Electric Expense 2452 Fuel Expense 0 Garage YN Yes Gross Income 190200 Gross Scheduled Income 190200 Insurance Expense 10221 Land Lease YN No Laundry Features Common AreaGas Dryer Hookup Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 11628 Net Operating Income 142336 New Construction YN No Number Of Separate Gas Meters 10 Number Of Separate Water Meters 1 Number Of Units Leased 9 Operating Expense 47864 Pest Control Expense 744 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Security Features Carbon Monoxide Detector(s)Smoke Detector(s) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 440.66 Tax Annual Amount 3306.2 Tenant Pays Cable TVElectricityGas Total Actual Rent 190200 Trash Expense 2741 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 8837 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2026-03-09T00:26:11.347. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Equity Union. Licensed in the State of California, USA.
 
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Equity Union
860 Walnut St. Ste C
San Luis Obispo CA, 93401
Listing Agent(s): Linda Wilson of Central Coast Sotheby's International Realty (805-781-6040) and Aimee Edsall of Central Coast Sotheby's International Realty(805-781-6040)