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1018 & 1022 Islay Street

San Luis Obispo, CA 93401

6 beds
4 baths
2,457 sqft
4,750 sqft lot
$936 per sqft
1900 build
– on site

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!

Listed By CRMLS_CA / Jeff Landon / Keller Williams Realty Central Coast / 8059043444

Last checked: Checking… • Last updated Mar 2, 2025 •

MLS# PI25042402 —

This property is listed in more than one place. See it here.

The Building

Year Built:

1900
Year Built Source:

Assessor
New Construction:

No
Total Number Of Units:

2
Roof:

Composition, Shingle
Structure Type:

Duplex
Stories Total:

2
Entry Level:

1
Patio And Porch Features:

Deck, Patio
Patio:

1
Common Walls:

1 Common Wall
Faces:

Southeast

Interior

Features:

Ceiling Fan(s), Recessed Lighting
Levels:

Two
Entry Location:

Front
Kitchen Features:

Remodeled Kitchen
Flooring:

Vinyl
Room Type:

Kitchen, Living Room, Office
Living Area Units:

Square Feet
Living Area Source:

Assessor
Fireplace:

No
Fireplace:

None
Laundry:

Dryer Included, Electric Dryer Hookup, Outside, Washer Hookup, Washer Included
Laundry:

1

Room Dimensions

Living Area:

2457.00

Location

Directions:

From the 101 - take Santa Rosa St South, turn right on Islay St, property is on the right.
Latitude:

35.27767400
Longitude:

-120.65703700

The Property

Property Type:

Residential
Subtype:

Duplex
Property Condition:

Updated/Remodeled
Zoning:

R3
Lot Features:

2-5 Units/Acre
Lot Size Area:

4750.0000
Lot Size Acres:

0.1090
Lot Size SqFt:

4750.00
Lot Size Source:

Assessor
View:

1
View:

Hills, Neighborhood
Fencing:

Wood
Fence:

Yes
Road Frontage:

City Street
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Other Structures:

Shed(s)
Land Lease:

No
Lease Considered:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

111.01
Tax Lot:

11

Beds

Total Bedrooms:

6
Main Level Bedrooms:

1

Baths

Total Baths:

4
Bathroom Features:

Shower in Tub, Upgraded, Walk-in shower
Full & Three Quarter Baths:

4
Main Level Baths:

1
Full Baths:

4

The Listing

Special Listing Conditions:

Standard
Parcel Number:

003544012

Heating & Cooling

Heating:

1
Heating:

Forced Air
Cooling:

No
Cooling:

None

Utilities

Utilities:

Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

Gas Range, Refrigerator, Tankless Water Heater
Included:

Yes

Schools

High School District:

San Luis Coastal Unified

The Community

Subdivision:

San Luis Obispo(380)
Subdivision:

San Luis Obispo(380)
Features:

Suburban
Association:

No
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

Yes
Assessments:

Unknown

Parking

Parking:

Yes
Parking:

Driveway
Parking Spaces:

3.00
Uncovered Spaces:

3.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

AT&T Internet

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
2/27/25 Feb 27, 2025	Listed / Active	CRMLS_CA	$2,300,000

Multifamily For Sale

$2,300,000

Listing provided by broker:

Jeff Landon

Keller Williams Realty Central Coast

8059043444

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This multifamily located in Downtown San Luis Obispo Core, San Luis Obispo, CA 93401 is currently for sale for $2,300,000. 1018 & 1022 Islay Street is a 2,457 square foot multifamily with 6 beds and 4 baths that has been on Estately for 7 days. 1018 & 1022 Islay Street is in the Downtown San Luis Obispo Core neighborhood of San Luis Obispo and has a WalkScore® of 90, making it very walkable. This multifamily is in the attendance area of Laguna Middle School, San Luis Obispo High School, and Hawthorne Elementary School.

Listing Courtesy of: CRMLS_CA and Keller Williams Realty Central Coast. Based on information from California Regional Multiple Listing Service, Inc. as of 17:02 on Mar 06.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.