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687 Islay

San Luis Obispo, CA 93401

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$3,900,000

5,888 sq ft
  |  
0.48 acre

687 Islay

San Luis Obispo, CA 93401

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Listed On: 02/13/2026
Status: Active
Listing Number: SC26013167 (CRMLS)

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Contact Info

Advertising Agent:

London Properties, Ltd.
London Properties, Ltd. 559.436.4071 Email Agent
Property Description
Listing Agent: Linda Wilson, Central Coast Sotheby's International Realty
Listing Co-Agent: Aimee Edsall, Central Coast Sotheby's International Realty

 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.
Property Sub Type
Apartment
Year Built
1895
Year Built Source
Assessor
Special Listing Conditions
Standard
Stories Total
2
Levels
Two
Number Of Buildings
1
Number Of Units Total
9
Entry Level
1
Entry Location
front
Price Per Square Foot
$662
Price Per Unit
$433,333
Days On London
11
Cumulative Days On London
11
County Or Parish
San Luis Obispo
Have
9 rooms, 9 kitchens, 9 bathrooms
Improvements Amount
26272
New Construction Y/N
No
Property Attached Y/N
Yes
Rent Control Y/N
Yes
Cooling Y/N
No
Fence Y/N
Yes
Heating Y/N
Yes
Directions
Corner of Broad and Islay
Disclosures
Historical
Architectural Style
Victorian
Room Type
Attic, Basement, Bonus Room, Center Hall, Formal Entry, Foyer, Laundry
Heating
Fireplace(s), Natural Gas, Wood Stove
Cooling
None
Laundry Y/N
Yes
Laundry Features
Community, Gas Dryer Hookup
Laundry Equipment Own Lease
Own
Roof
Composition, Shingle
Security Features
Carbon Monoxide Detector(s), Smoke Detector(s)
Construction Materials
Lap Siding, Redwood Siding, Wood Siding
Door Features
Double Door Entry, Panel Doors, Sliding Doors
Window Features
Bay Window(s), Screens, Skylight(s), Wood Frames
Foundation Details
Concrete Perimeter, Raised, Stone
Other Structures
Outbuilding, Shed(s), Storage, Workshop
Appliances Y/N
Yes
Appliances
Dishwasher, Gas Range, Refrigerator, Water Heater
Interior Features
Built-in Features, Ceiling Fan(s), High Ceilings, Laminate Counters, Storage, Wainscoting
Accessibility Features
None
Flooring
Carpet, Wood
Common Walls
2+ Common Walls
Fireplace Y/N
Yes
Fireplace Features
Gas, Free Standing
Exterior Features
Lighting
Pool Features
None
Pool Private Y/N
No
Spa Y/N
No
Spa Features
None
Average Studio Area Units
Square Feet
Average 1 Bed Area Units
Square Feet
Average 2 Bed Area Units
Square Feet
Average 3 Bed Area Units
Square Feet
Number With Refrigerator
9
Number With Range
9
Number With Dishwasher
2
Number With Disposal
0
Number With Carpet
6
Number With Drapes
9
Number With Patio
2
Number Of Separate Electric Meters
10
Number Of Separate Gas Meters
10
Number Of Separate Water Meters
1
Electric
Electricity - On Property
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Water Source
Public
Sewer
Public Sewer
Parking Y/N
Yes
Parking Total
15.00
Parking Features
Driveway, Unpaved, Driveway Level, Garage Faces Side, Garage - Single Door, Off Site, On Site, Side by Side, Unassigned
Garage Spaces
6.00
Uncovered Spaces
9.00
Lot Features
6-10 Units/Acre,Back Yard,Corner Lot,Front Yard,Garden,Lawn,Level with Street,Lot 20000-39999 Sqft,Walkstreet,Yard
Lot Size Area
20735.0000
Lot Size Units
Square Feet
Elevation Units
Feet
Road Frontage Type
City Street
Road Surface Type
Paved
View Y/N
Yes
View
City Lights, Hills, Neighborhood
Fencing
Wood
Common Interest
Community Apartment
Parcel Number
003631006
Additional Parcels Y/N
No
Subdivision Name
San Luis Obispo(380)
Subdivision Name Other
San Luis Obispo(380)
Community Features
Biking, Storm Drains, Street Lights, Urban
Senior Community Y/N
No
Association Y/N
No
Number Of Units Leased
9
Tenant Pays
Cable TV, Electricity, Gas
Gross Operating Income
190200.00
Gross Income
190200.00
Operating Expense
47864.00
Present Loans
858000
Total Actual Rent
190200.00
Land Lease Y/N
No
Assessments
Unknown
Insurance Expense
10221.00
Electric Expense
2452.00
Water Sewer Expense
8837.00
Trash Expense
2741.00
Maintenance Expense
11628.00
Supplies Expense
440.66
Gardener Expense
7600.00
Pest Control Expense
744.00
Professional Management Expense
12000.00
Licenses Expense
138.72
Gross Scheduled Income
190200.00
Gross Income
190200.00
Laundry Income
1800.00
Total Expenses
56802.00
Net Operating Income
142336.00
Operating Expense
47864.00
Gross Operating Income
190200.00
Gross Income
190200.00
Net Operating Income
142336.00
Tax Annual Amount
3306.20
Tax Area
003000
Tax Block
93
Tax Lot
1

The data relating to real estate for sale on this web site comes in part from the Internet Data eXchange (IDX) of the Multiple Listing Service. Real estate listings are marked with the IDX logo and detailed information about them includes the name of the listing broker and the name of the listing agent. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Information herein deemed reliable but not guaranteed, representations are approximate, individual verification recommended.

Copyright © 2026  London Properties, Ltd. All rights reserved.

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