Historic Victorian Residence in San Luis
687 Islay, San Luis Obispo, CA 93401
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Iconic Victorian residence with income potential in downtown San Luis Obispo.
Type:Multifamily
Lot size:
0.50 Acres- Added:
- Feb 9, 2026
- Days on Market:
- 93
- Last Refresh:
- Mar 19 at 9:47 pm
Property Features for 687 Islay
General Information
- Standard status
- Active
- Lot size
- 0.50 Acres
- Property subtype
- Multifamily
Listing agent Linda Wilson License #01045160
Listing office Richardson Sotheby's International Realty (805) 543-7727
Listing date Feb 9, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Richardson Sotheby's International Realty
HighLights
- Historic Victorian residence on a large (nearly half‑acre) downtown lot.
- Income‑producing property with nine residential units (3 one‑bedroom, 6 studio lofts).
- Development potential for expansion and increased density (subject to approvals).
- Nine outbuildings provide garages, storage, bicycle garage, social room, and laundry.
- Restored historic character with original redwood, Douglas fir accents, 12‑foot ceilings, and expansive windows.
- Park‑like grounds, patio areas, and barbecue space.
Overview
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- San Luis Obispo
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.6613248
- Latitude
- 35.2747178
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Iconic Victorian residence with income potential in downtown San Luis Obispo.
Where is this apartment building located?
The property is located at 687 Islay San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Historic Victorian residence on a large (nearly half‑acre) downtown lot.; Income‑producing property with nine residential units (3 one‑bedroom, 6 studio lofts).; Development potential for expansion and increased density (subject to approvals).
