About 1143 Walnut Street
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 SLOs most desirable investment corridors. Dont miss outschedule a viewing and explore the potential today!
Features of 1143 Walnut Street
| MLS® # | SC25180078 |
|---|---|
| Price | $1,095,000 |
| Bedrooms | 5 |
| Bathrooms | 3.00 |
| Full Baths | 3 |
| Square Footage | 1,953 |
| Acres | 0.17 |
| Year Built | 1925 |
| Type | Residential |
| Sub-Type | Detached |
| Status | Closed |
Community Information
| Address | 1143 Walnut Street |
|---|---|
| Area | SAN LUIS OBISPO (93401) |
| City | San Luis Obispo |
| County | San Luis Obispo |
| State | CA |
| Zip Code | 93401 |
Amenities
| Utilities | Cable Available,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected |
|---|---|
| Parking Spaces | 2 |
| # of Garages | 2 |
| View | N/K |
| Is Waterfront | No |
| Has Pool | No |
| Pool | N/K |
Interior
| Appliances | Refrigerator,Gas Oven,Gas Range |
|---|---|
| Heating | Forced Air Unit |
| Cooling | N/K |
| Fireplace | No |
| Fireplaces | N/K |
| # of Stories | 2 |
| Stories | 2 Story |
Exterior
| Lot Description | Sidewalks |
|---|
Additional Information
| Date Listed | August 15th, 2025 |
|---|---|
| Days on Market | 158 |
| Zoning | R2 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Farrell Smyth Real Estate |
|---|