1023 Walnut St

Whether you're looking for a smart investment, a place to live with rental income, or housing for a Cal Poly student, this charming duplex offers flexibility and opportunity in one attractive package. This property is located 4 blocks from downtown San Luis Obispo, conveniently close to highway 101 access, and Cal Poly. The front residence has been thoughtfully updated with a bright, open floor plan, modern finishes, and a fresh, contemporary feel. The remodeled kitchen opens seamlessly to the living space and features white cabinetry, updated countertops, and a large peninsula perfect for casual dining or entertaining. A beautifully renovated bathroom includes a spacious walk-in tiled shower, while the private deck provides a peaceful spot to enjoy your morning coffee, unwind in the evening, or take in the surrounding hillside views. The second unit offers its own distinct character and comfortable living space, creating excellent potential for rental income, guest accommodations, or multi-generational living. This unit features original hardwood floors, wood paneling, and several windows for lots of natural light. Separate outdoor areas give each residence a sense of privacy and independence. This property is set on a generously sized lot with off-street parking, mature landscaping, and multiple outdoor gathering spaces. The gross projected rental income is $52,800 annually based upon rent of $2200 per unit. Each unit has access to a garage and their own washer and dryer. This structure could be converted into an ADU for even more rental income potential. Check with the city for future development opportunities. The versatile layout allows future owners to maximize income, offset mortgage costs, or simply enjoy the benefits of owning a property with built-in flexibility. This is an investment opportunity with updated living spaces, private outdoor areas, and endless possibilities for both investors and owner-occupants alike.