687 Islay St San Luis Obispo, CA 93401

This historic Victorian residence, constructed in 1895, is situated on a prominent property in downtown San Luis Obispo. The restored residence, updated over the past 50 years, is set on nearly a half-acre of usable land and includes nine residential units. The unit mix comprises three one-bedroom residences and six studio units with lofts. Additionally, there are nine outbuildings on the property, which are utilized as garages, storage spaces, a bicycle garage, a social room, and a laundry facility. The property retains its historic character through ornate Victorian detailing, original redwood construction with Douglas fir accents, soaring 12-foot ceilings, and expansive windows, while incorporating modern conveniences. A large basement, park-like grounds, patio areas, and a barbecue space enhance the property's appeal. The existing income-producing layout 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 an opportunity for investors and owner-users.