John E Burge

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

Multi-Family · 5,888 Sq. ft. | 0.48 Acres
$2,900,000 Active

687 Islay #1-9 Overview

Time on Site:
130 days
Visits:
0

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.

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687 Islay #1-9 Facts & Features

  • Type Multi-Family
  • Sq. ft. 5,888
  • Price/Sq.ft. $493
  • Lot 0.48 Acres

Details

General

Association/HOA

  • Association: No
  • Common Interest: Community Apartment

Income/Expenses

  • Electric Expense: 2452.0
  • Gardener Expense: 7600.0
  • Gross Income: 192600.0
  • Gross Scheduled Income: 192600.0
  • Insurance Expense: 10221.0
  • Maintenance Expense: 11628.0
  • Net Operating Income: 124899.5
  • Operating Expense: 67700.4
  • Trash Expense: 2741.0
  • Water Sewer Expense: 8837.0

Building Information

  • New Construction: No
  • Year Built: 1895

Location/Region

  • Country: US
  • County Or Parish: San Luis Obispo
  • MLS Area Major: SLO - San Luis Obispo
  • Postal City: SAN LUIS OBISPO
  • Subdivision Name: San Luis Obispo(380)

Community/Development

  • Community Features: Biking,Storm Drain(s),Street Lights,Urban

Rent/Lease Information

  • Land Lease: No
  • Tenant Pays: Cable TV,Electricity,Gas

Tax Information

  • Tax Annual Amount: 3306.2

General Information

  • Disclosures: Historical
  • Listing Terms: Cash,Cash to New Loan
  • Parcel Number: 003631006
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Rent Control: Yes
  • Senior Community: No
  • Special Listing Conditions: Standard

Interior

Parking Information

  • Garage Spaces: 6.0
  • Garage: Yes

Building Interior

  • Building Area Total: 5888.0
  • Building Area Units: Square Feet

General Information

  • Accessibility Features: None
  • Appliances: Dishwasher,Gas Range,Refrigerator,Water Heater
  • Basement: Yes
  • Common Walls: 2+ Common Walls
  • Door Features: Double Door Entry,Panel Doors,Sliding Doors
  • Electric: Electricity - On Property
  • Entry Level: 1
  • Entry Location: front
  • Fireplace Features: Free Standing,Gas
  • Fireplace: Yes
  • Flooring: Carpet,Wood
  • Foundation Details: Concrete Perimeter,Raised,Stone
  • Interior Features: Built-in Features,Ceiling Fan(s),High Ceilings,Laminate Counters,Paneling/Wainscoting,Storage,Attic,Entrance Foyer
  • Laundry Features: Common Area,Gas Dryer Hookup
  • Levels: Two
  • Security Features: Carbon Monoxide Detector(s),Smoke Detector(s)
  • Spa Features: None
  • Spa: No
  • Stories: 2
  • Stories Total: 2
  • Window Features: Bay Window(s),Screens,Skylight(s),Wood Frames

Unit Information

  • Unit Number: 1-9

Exterior

Parking Information

  • Open Parking Spaces: 9.0
  • Parking Features: Driveway Level,Door-Single,Driveway,Garage,Off Site,On Site,Garage Faces Side,Side By Side,Unassigned,Unpaved
  • Parking Total: 15.0

Lot Information

  • Additional Parcels: No
  • Lot Features: 6-10 Units/Acre,Back Yard,Corner Lot,Front Yard,Garden,Lawn,Street Level,Walkstreet,Yard
  • Lot Size Acres: 0.476
  • Lot Size Area: 20735.0
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 20735.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Road Surface Type: Paved
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

    Building Exterior/Construction

    • Architectural Style: Victorian
    • Construction Materials: Lap Siding,Redwood Siding,Wood Siding
    • Property Attached: Yes
    • Roof: Composition,Shingle

    General Information

    • Exterior Features: Lighting
    • Fencing: Wood
    • Number Of Units Leased: 9
    • Number Of Units Total: 9
    • Other Structures: Outbuilding,Shed(s),Storage,Workshop
    • Pool Features: None
    • Pool Private: No
    • Road Frontage Type: City Street
    • Sewer: Public Sewer
    • Utilities: Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected

    687 Islay #1-9 Neighborhood

    Community

    93401 (San Luis Obispo) Demographics

    36
    Median Age
    411
    Population Density (per sq. mile)
    60%
    College Educated
    $78,788
    Estimated Median Income
    6,162
    Estimated Total Home Owners
    6,505
    Estimated Total Renters
    49% / 51%
    Estimated Owner / Renter Divide
    2
    Estimated Average Household Size
    Community data courtesy of LiveBy, Inc.

    Schools

    School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

    687 Islay #1-9 Monthly Cost

    $
    $ %
    %
    $
    $
    * All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

    687 Islay #1-9 Market Data

    Based on the last 30 days in this zip code

    $1,423,803
    Average List Price
    $747
    Average Price per Square Foot
    38
    Properties Sold
    72
    Average Days on Market
    221
    Properties for Sale
    Calculations provided by Reliance Network

    687 Islay #1-9 History

    Date Event Value Agent
    5/15/2026Source: CRMLS Status Change
    Active
    5/11/2026Source: CRMLS Status Change
    Pending
    5/7/2026Source: CRMLS Price Reduction
    $2,900,000 -19.4%
    4/19/2026Source: CRMLS Price Reduction
    $3,600,000 -7.7%
    2/19/2026Source: CRMLS Added to Database
    February 19, 2026
    Listing provided courtesy of Central Coast Sotheby's International RealtyLinda Wilson- MLS# SC26013167MLS ProviderContact Information: [email protected] - 805-781-6040
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