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1142 Montalban St San Luis Obispo, CA 93405

Sponsored
For Sale
$1,500,000

Prime location, development opportunity. High rental income.

Property size:
1,208 SF

Description

Added:
Dec 11, 2024
Days on Market:
391
This exceptional mixed-use property in San Luis Obispo, California, presents a compelling value-add investment opportunity. Located at 1142 Montalban St, 93405, this 8,915 square foot lot boasts a 1,208 square foot, two-bedroom, one-bathroom home built in 1910, currently leased at $4,390 per month until January 31, 2025, providing immediate income. The property is zoned for Mixed Complex use, allowing for a significant development project. Pre-approved plans are included in the sale, detailing a five-unit development comprising two commercial units (262 and 869 square feet respectively), two residential units (1,880 square feet each), and an 855 square foot accessory dwelling unit (ADU), totaling 5,746 square feet. Preliminary architectural review is complete, and Title 24 compliance is slated for submission in September 2024. This property offers substantial income potential, situated within walking distance of Cal Poly and downtown San Luis Obispo. The asking price is $1,500,000. The property's APN is 001-113-005. The sale is offered by owner. The existing structure requires extensive renovation or demolition.

Property Features for 1142 Montalban St

General Information

Property type
Individual retail properties
Square Feet
1,208 SF

Building Details

Year Built
1910
Units
1

HighLights

  • 8,195 SF lot (0.19 acres).
  • Mixed‑use zoning (Residential over Commercial).
  • Existing 1,208 SF, 2 bed/1 bath home, built in 1910, with detached garage; currently leased at $4,390/month until 1/31/2025.
  • Property requires extensive renovation or demolition.
  • Pre‑approved plans for a 5‑unit development (2 commercial units totaling 1,131 SF, 2 residential units at 1,880 SF each, and an 855 SF ADU), totaling 5,746 SF.
  • Preliminary architectural review complete; Title 24 compliance submission slated for September 2024.
Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
San Luis Obispo
County
San Luis Obispo
State
California
Longitude
-120.66404186061
Latitude
35.288890494349

FAQs

What type of property is this?
Individual retail property - Prime location, development opportunity. High rental income.
Where is this individual retail property located?
The property is located at 1142 Montalban St San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,195 SF lot (0.19 acres).; Mixed-use zoning (Residential over Commercial).; Existing 1,208 SF, 2 bed/1 bath home, built in 1910, with detached garage; currently leased at $4,390/month until 1/31/2025.
More about this property
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