389 Pismo & 1417 Carmel San Luis Obispo, CA 93401
Downtown San Luis Obispo NeighborhoodEstimated payment $10,136/month
Total Views
111,814
3
Beds
3
Baths
2,190
Sq Ft
$708
Price per Sq Ft
Highlights
- Detached Guest House
- RV Access or Parking
- Wood Flooring
- Laguna Middle School Rated A
- View of Hills
- 5-minute walk to Emerson Park
About This Home
389 Pismo & 1417 Carmel, this property offers a fantastic investment opportunity in the heart of downtown San Luis Obispo! Zoned R3 with potential to split the lot, this versatile property opens the door to endless possibilities. 389 Pismo is a charming 2-bedroom, 1-bath ~890 sq ft house showcasing classic hardwood floors, a striking arched front door with stained glass, and a cozy fireplace with a brick hearth and decorative tile accents. Outdoor spaces include a side garden and a rear patio, perfect for enjoying the mild Central Coast climate. Behind the main house, a separate studio unit features a kitchenette and a 3⁄4 bath, offering excellent rental or guest potential. A peaceful patio with an above-ground pond and waterfall creates a relaxing retreat. Additionally, the oversized 2-car garage provides ample storage and potential for additional units—buyers should check with the city regarding development options. 1417 Carmel is a Duplex featuring 2 One bedroom, 1 bath units with approximately 1144 sq ft total, built in the 1950's. Unit A is the larger of the two, and features a comfortable living room, a washer/dryer closet enclosure in the kitchen and a separate bedroom and full bathroom. Unit B offers an open floor plan with a washer/dryer closet enclosure in the living room, a separate bedroom and a full bath. Located in the highly desirable downtown San Luis Obispo area, this property is an exceptional opportunity for investors, developers, or homeowners looking to maximize value. Don't miss out on this rare find!
Listing Agent
Keller Williams Realty Central Coast Brokerage Phone: 805-781-3750 License #01111911 Listed on: 03/25/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1929
Lot Details
- 10,700 Sq Ft Lot
- 1 Common Wall
- Front Yard
- 003661020
Parking
- 4 Open Parking Spaces
- 2 Car Garage
- Carport
- Parking Available
- Driveway
- RV Access or Parking
Property Views
- Hills
- Neighborhood
Home Design
- Triplex
Interior Spaces
- 2,190 Sq Ft Home
- 1-Story Property
- Living Room with Fireplace
- Laundry Room
Flooring
- Wood
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Outdoor Features
- Rain Gutters
Additional Homes
- Two Homes on a Lot
- Detached Guest House
Listing and Financial Details
- Legal Lot and Block 2 / 49
- Assessor Parcel Number 003611007
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 4 Units
- San Luis Obispo Subdivision
Building Details
- Rent Control
- 3 Separate Electric Meters
- 1 Separate Gas Meter
- 2 Separate Water Meters
- Gross Income $43,800
- Net Operating Income $43,800
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/25/2025 06/25/25 | Price Changed | $1,550,000 | -6.1% | $708 / Sq Ft |
| 04/24/2025 04/24/25 | Price Changed | $1,650,000 | -8.3% | $753 / Sq Ft |
| 03/25/2025 03/25/25 | For Sale | $1,799,000 | -- | $821 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Similar Home in San Luis Obispo, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SC25064853
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