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1018 & 1022 Islay Street San Luis Obispo, CA 93401
$2,300,000 0 beds, 0 baths
0 sqft
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Agent Remarks

Seize this rare opportunity to own a fully renovated duplex just steps from downtown San Luis Obispo. This fully renovated duplex generates $10,900 in monthly rental income, with tenants covering utilities. Each unit features three bedrooms, two bathrooms, and a dedicated office space, making this property an ideal investment with strong rental demand in a prime location. Located within walking distance of boutique shops, top-rated restaurants, vibrant nightlife, and Cal Poly, these units are highly desirable among local renters, ensuring a lucrative return on investment. Both units include separate gas and electric meters, laundry areas, forced air heating, and brand-new tankless water heaters. The well-designed layout includes two bedrooms and a full bath upstairs, while the lower level features an additional bedroom, office, bathroom, living room, and kitchen—offering flexible living arrangements. Step outside to a covered back deck with electric laundry hookups, leading to a private, fully fenced backyard with a brick patio and storage sheds, creating a perfect space for relaxing or entertaining. The property has undergone extensive, fully permitted renovations, ensuring modern comfort and long-term value. Updates include a new roof, new HVAC units, new ceiling fans, new tankless water heaters, updated plumbing, upgraded electrical systems and panels, new drywall and insulation, fresh interior and exterior paint, and luxury vinyl tile flooring throughout. The kitchens have been beautifully remodeled with open shelving, stainless steel appliances and hoods, and quartz countertops, blending modern style with everyday functionality. With its charming curb appeal, modern upgrades, and unbeatable location, this turnkey duplex is a rare investment opportunity in one of California’s most sought-after markets. Don’t miss your chance to own this exceptional downtown San Luis Obispo property!

Listing Details

Property type: Duplex (Multi-Family)
Status: Active
MLS# PI25042874
List price is $2,300,000
HOA Fee is $0.00
Beds: 0
Baths: 0
Built in 1900
2 stories
0.11 acres
Lot size: 0.1090
Subdivision: San Luis Obispo(380)
County: San Luis Obispo
Zoning: R3
Interior features: Ceiling Fan(s),Recessed Lighting
Appliances: Gas Cooktop,Microwave,Refrigerator,Tankless Water Heater
Parking description: Driveway
Lot description: TwoToFiveUnitsAcre
MLS area: SLO - San Luis Obispo

Last Updated: 3/2/2025

 Find more San Luis Obispo homes and real estate

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This listing belongs to the SLO - San Luis Obispo MLS area

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Lat/Long: 35.277681, -120.657038.
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Listing Agent: Jeff Landon
Lic#: 01276603
Office Name: Tustin

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Area Overview

Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

Community Characteristics:

Occupancy Type

White/Blue Collar Jobs

Population by Gender

Hispanic/Non-Hispanic Population

Compared to National:

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Lic#: 01276603

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© 2025 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHHS and the BHHS symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information.
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