1545 Carmel Street, San Luis Obispo, California 93401

Historic Gem with Modern Upgrades in Downtown San Luis Obispo. Nestled adjacent to the vibrant downtown historic district, this charming property offers a perfect blend of vintage elegance and contemporary comfort. Built in the late 1800s, this home has been thoughtfully updated over the years, with an extensive remodel by the current owner bringing it to the pinnacle of modern living. Located within walking distance to SLO’s main streets, you’ll have easy access to the best restaurants, shopping, and entertainment the Central Coast has to offer. This property features two distinct separately metered units (390 Islay and 1545 Carmel), each offering significant income potential. One unit is occupied by full-time tenants paying top-of-market rent, while the other operates as a highly successful furnished rental. Income has averaged over $10,000 monthly. The R3 zoning and existing (original!) carriage house site provide an exciting opportunity for further income by building an ADU. The spacious interiors are designed to cater to today’s lifestyle while preserving the unique character of the property. Modern finishes and materials are juxtaposed against gorgeous wide plank old growth redwood walls, creating an ambiance that is both stylish and warm. Upgraded features include central air and heat, brand new roof, new electrical and plumbing, and freshly redesigned tile and cabinetry in kitchens and baths. Situated on a large corner lot, the oversized property boasts multiple outdoor spaces surrounded by lush hedges that create a private, secret garden feel. Two beautifully designed backyard decks offer the perfect locations to relax and enjoy breathtaking views of the Cerro San Luis Mountains. Don’t miss out on this unique chance to own a historic gem with contemporary conveniences and outstanding income potential in the heart of San Luis Obispo. Contact us today to schedule a private viewing and experience the magic of this exceptional property!