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For sale
    • Listed by: Central Coast Sotheby's International Realty • Linda Wilson • Contact: 805-801-3232
    Price cut: $700K (5/7)
    $2,900,000

    687 Islay St #1-9, San Luis Obispo, CA 93401

    9beds
    9baths
    5,888sqft
    : 
    $19,000/mo
    Get pre-qualified
    Multi Family
    Built in 1895
    -- sqft lot
    $-- Zestimate®
    $493/sqft
    $-- HOA

    What's special

    Ornate victorian detailingLarge basementModern conveniences throughoutExpansive windowsPark-like groundsPatio areasBarbecue space
    Built in 1895, this iconic Historic Victorian residence sits on one of downtown San Luis Obispo’s most prominent properties. Restored over the past 50 years, the residence is set on nearly a half-acre of usable land and currently features nine residential units, including three one-bedroom residences and six studio units with lofts. The property also includes nine outbuildings used as garages, storage, a bicycle garage, social room, and laundry facility. Historic character is preserved through ornate Victorian detailing, original redwood built with Douglas fir accents, soaring 12-foot ceilings, and expansive windows, while offering modern conveniences throughout. A large basement, park-like grounds, patio areas, and barbecue space enhance the property’s appeal. In addition to its existing income-producing layout, the property 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 a rare opportunity for investors and owner-users alike.
    160 days
    |
    1,897
    |
    95
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Linda Wilson DRE #01045160 805-801-3232,

    Central Coast Sotheby's International Realty,

    Aimee Edsall DRE #01753340,

    Central Coast Sotheby's International Realty

    Source: CRMLS,MLS#: SC26013167MLS LogoOriginating MLS: California Regional MLS

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 9
      • Bathrooms: 9
      Rooms
      • Room types: Attic, Bonus Room, Basement, Center Hall, Entry/Foyer, Foyer, Laundry
      Heating
      • Fireplace(s), Natural Gas, Wood Stove
      Cooling
      • None
      Appliances
      • Included: Dishwasher, Gas Range, Refrigerator, Water Heater
      • Laundry: Common Area, Gas Dryer Hookup
      Features
      • Built-in Features, Ceiling Fan(s), High Ceilings, Laminate Counters, Paneling/Wainscoting, Storage, Attic, Entrance Foyer
      • Flooring: Carpet, Wood
      • Doors: Double Door Entry, Panel Doors, Sliding Doors
      • Windows: Bay Window(s), Screens, Skylight(s), Wood Frames
      • Has basement: Yes
      • Has fireplace: Yes
      • Fireplace features: Free Standing, Gas
      • Common walls with other units/homes: 2+ Common Walls
      Interior area
      • Total structure area: 5,888
      • Total interior livable area: 5,888 sqft
      Video & virtual tour

      Property

      Parking
      • Total spaces: 15
      • Parking features: Driveway Level, Door-Single, Driveway, Garage, Off Site, On Site, Garage Faces Side, Side By Side, Unassigned, Unpaved
      • Garage spaces: 6
      • Uncovered spaces: 9
      Accessibility
      • Accessibility features: None
      Features
      • Levels: Two
      • Stories: 2
      • Entry location: front
      • Exterior features: Lighting
      • Pool features: None
      • Spa features: None
      • Fencing: Wood
      • Has view: Yes
      • View description: City Lights, Hills, Neighborhood
      Lot
      • Size: 0.48 Acres
      • Features: 6-10 Units/Acre, Back Yard, Corner Lot, Front Yard, Garden, Lawn, Street Level, Walkstreet, Yard
      Details
      • Additional structures: Outbuilding, Shed(s), Storage, Workshop
      • Parcel number: 003631006
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Victorian
      • Property subtype: Multi Family
      • Attached to another structure: Yes
      Materials
      • Lap Siding, Redwood Siding, Wood Siding
      • Foundation: Concrete Perimeter, Raised, Stone
      • Roof: Composition,Shingle
      Condition
      • New construction: No
      • Year built: 1895

      Utilities & green energy

      • Electric: Electricity - On Property
      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

      Community & HOA

      Community
      • Features: Biking, Storm Drain(s), Street Lights, Urban
      • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
      • Subdivision: San Luis Obispo(380)
      Location
      • Region: San Luis Obispo

      Financial & listing details

      • Price per square foot: $493/sqft
      • Annual tax amount: $3,306
      • Date on market: 2/13/2026
      • Cumulative days on market: 160 days
      • Listing terms: Cash,Cash to New Loan
      • Total actual rent: 15900
      • Tenant pays: Cable TV, Electricity, Gas
      • Road surface type: Paved

        Estimated market value

        Not available

        Estimated sales range

        Not available

        $2,773/mo

        Price history

        DateEventPrice
        5/15/2026Listed for sale$2,900,000$493/sqft
        Source: CRMLS #SC26013167 Report a problem
        5/11/2026Pending sale$2,900,000$493/sqft
        Source: CRMLS #SC26013167 Report a problem
        5/7/2026Price change$2,900,000-19.4%$493/sqft
        Source: CRMLS #SC26013167 Report a problem
        4/19/2026Price change$3,600,000-7.7%$611/sqft
        Source: CRMLS #SC26013167 Report a problem
        2/13/2026Listed for sale$3,900,000$662/sqft
        Source: CRMLS #SC26013167 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 93401

        Getting around

        89 / 100
        Very Walkable
        36 / 100
        Some Transit
        88 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating

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