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347 Branch St

San Luis Obispo, CA 93401

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$1,450,000

2,612 sq ft
  |  
0.24 acre

347 Branch St

San Luis Obispo, CA 93401

Listed On: 09/17/2026
Status: Active
Listing Number: SC26203460 (CRMLS)

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Advertising Agent:

London Properties, Ltd.
London Properties, Ltd. 559.436.4071 Email Agent
Property Description
Listing Agent: Graham Updegrove, California Coastal Real Estate

Unlock the potential of this well-located triplex near downtown San Luis Obispo offering an attractive combination of historic character, R-2 zoning and rental income. Whether you're looking to expand your investment portfolio or pursue a house-hack strategy, this three-unit property provides multiple opportunities for an owner-occupant or investor. The front residence is a charming Mission-style 3-bedroom, 1.5-bath home, built in 1929 and offering ±1,460 square feet of living space. Enjoy the fenced front yard, mature landscaping and porch under a large redwood tree. Architectural character includes distinctive arched windows and doorways, while the spacious bedrooms, open kitchen, and indoor laundry add everyday functionality. At the rear of the property is a single-story duplex, built in 1942, with ±1,152 square feet of combined living space. Each unit features 1 bedroom and 1 full bathroom, along with its own private yard and washer/dryer hookups. Each unit comes with access to a shed, plus an additional large shed currently reserved for the owners tools and landscaping equipment. Unit A and Unit B are available for immediate move in, providing flexibility for a buyer, while Unit C is leased for $2,000 per month. There are separate gas and electric meters for each unit, with two water meters; one for the front house and one for the duplex. Ideally situated near downtown San Luis Obispo, freeway access, shopping, dining, and commercial services, this triplex offers a compelling opportunity to own a multi-family property in one of the Central Coast's most desirable communities.
Property Sub Type
Triplex
Year Built
1929
Year Built Source
Public Records
Special Listing Conditions
Standard
Stories Total
1
Levels
One
Number Of Buildings
2
Number Of Units Total
3
Entry Location
Front Door
Price Per Square Foot
$555
Price Per Unit
$483,333
Days On London
0
Cumulative Days On London
0
County Or Parish
San Luis Obispo
New Construction Y/N
No
Property Attached Y/N
No
Rent Control Y/N
No
Cooling Y/N
No
Heating Y/N
Yes
Directions
Beebee to Branch
Architectural Style
Spanish
Room Type
Main Floor Primary Bedroom, Kitchen, Living Room
Heating
Forced Air, Wall Furnace
Cooling
None
Laundry Y/N
Yes
Laundry Features
Washer Included, Dryer Included
Roof
Composition
Foundation Details
Raised
Appliances Y/N
Yes
Appliances
Microwave, Gas Oven, Dishwasher
Flooring
Tile, Vinyl, Wood
Common Walls
No Common Walls
Fireplace Y/N
No
Fireplace Features
None
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
576
Average 1 Bed Area Units
Square Feet
Average 2 Bed Area Units
Square Feet
Average 3 Bed Area
1460
Average 3 Bed Area Units
Square Feet
Number With Refrigerator
3
Number With Range
3
Number Of Separate Electric Meters
3
Number Of Separate Gas Meters
3
Number Of Separate Water Meters
2
Utilities
Natural Gas Connected, Sewer Connected, Electricity Connected, Water Connected
Water Source
Public
Sewer
Public Sewer
Parking Y/N
Yes
Parking Features
Driveway
Lot Features
Level with Street
Lot Size Area
10420.0000
Lot Size Units
Square Feet
Elevation Units
Feet
View Y/N
Yes
View
Mountain(s), Neighborhood
Common Interest
None
Parcel Number
003739042
Additional Parcels Y/N
No
Subdivision Name
San Luis Obispo(380)
Subdivision Name Other
San Luis Obispo(380)
Community Features
Gutters, Hiking, Street Lights, Sidewalks
Senior Community Y/N
No
Association Y/N
No
Inclusions
Personal Property NOT owned by Tenants
Number Of Units Leased
1
Gross Income
96000.00
Operating Expense
33600.00
Operating Expense Percent
35.00
Total Actual Rent
2000.00
Land Lease Y/N
No
Assessments
Unknown
Insurance Expense
3000.00
Water Sewer Expense
2400.00
Maintenance Expense
1800.00
New Taxes Expense
15400.00
Gross Scheduled Income
96000.00
Gross Income
96000.00
Total Expenses
22600.00
Net Operating Income
62400.00
Operating Expense
33600.00
Gross Income
96000.00
Net Operating Income
62400.00
Tax Block
7
Tax Lot
7

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.

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