San Luis Obispo County Homes with Triplex Subtype

Rare coastal investment opportunity in Cayucos! This versatile triplex features three spacious two-bedroom residences, each offering ocean views, two dedicated parking spaces, and private in-unit laundry. Units 1 and 2 each feature two full bathrooms, while Unit 3 offers two-and-a-half baths. All three units have been completely renovated, creating an attractive blend of updated interiors, coastal views, and strong rental flexibility. One unit is currently operated as a short-term rental, while the remaining two provide established long-term rental income. Located just three blocks from the Cayucos Pier and moments from downtown, 184 Birch Avenue offers a unique opportunity to invest, live, or vacation on California’s Central Coast. Buyer to verify with the county regarding the possibility of adding an ADU and additional short term rental permits.

184 Birch Avenue, Cayucos

$1,450,000

SC26203460 MLS ⋅ Active Under Contract Status

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.

347 Branch Street, San Luis Obispo

$1,450,000

5 Beds ⋅ 4 Baths ⋅ SC26196124 MLS ⋅ Active Under Contract Status

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.

347 Branch Street, San Luis Obispo

$2,995,000

PI26194623 MLS ⋅ Active Under Contract Status

A 2016-built oceanfront triplex on Oceano's most coveted street -- Wake up to whitewater. 1111 Strand Way is a rare, purpose-built 2016 triplex on the ocean side of Highway 1 in Oceano — the block where morning light comes in off the Pacific and the dunes roll straight to your balcony rail. Newer-construction multi-family assets with direct Pacific views, CR (Coastal Residential) zoning, and an operating short-term rental history almost never come to market on the Central Coast. Unit mix: Two 2BR / 2BA townhome-style residences with private 2-car garages, and a 1BR / 1BA retreat — all three fully furnished and separately metered for gas and electric. LVP flooring throughout, gas fireplaces, tankless water heaters, ENERGY STAR systems, wall-to-wall windows, high ceilings, and private balconies off every unit. Owned rooftop solar keeps operating costs low and guest reviews high. Flex play: Continue as a professionally managed vacation compound (short-term income history in supplements), convert to long-term coastal rentals, or owner-occupy one unit and let the other two service the debt. Turnkey, furnished, solar-owned — with the same view the single-family homes on this street pay $4M+. Location: Strand Way is the most desirable street in Oceano. Steps to the sand, minutes to Pismo Beach, and a short drive to San Luis Obispo, the SLO airport, and the wine country.

1111 Strand Way, Oceano

$945,000

NS26193449 MLS ⋅ Active Status

A rare downtown Paso Robles investment and redevelopment opportunity just two blocks from Downtown City Park. Located within a federally designated Opportunity Zone, this approximately 7,000 sq. ft. TC-2 zoned property offers a unique combination of rental income, central downtown location, and previously approved plans for future redevelopment. The existing improvements include three residential rental units with a mix of one- and two-bedroom configurations, generating approximately $70,680 in annual gross rental income. That income provides value during a buyer’s planning and holding period while evaluating the next phase of the property. Previously approved plans envision a new four-unit residential project consisting of two +/- 1,500 sq. ft. 3-bedroom, 2.5-bath residences and two +/- 1,250 sq. ft. 2-bedroom, 2.5-bath residences, together with a subterranean four-car garage designed to accommodate up to eight vehicles with tandem parking. The redevelopment concept takes advantage of the site’s downtown setting and dual frontage along Pine and Railroad Streets. Beyond the income and redevelopment potential, the location is a major part of the opportunity. Paso Robles’ Downtown City Park, Michelin-starred restaurants, tasting rooms, shopping, and other amenities are all nearby, making this a site with both immediate utility and long-term growth potential. For an investor or developer looking for a downtown Paso Robles property with income in place, Opportunity Zone positioning, and an established redevelopment concept, 1434/1436 Pine Street offers a combination that is increasingly difficult to find.

1434 1436 Pine Street, Paso Robles

$1,332,500

PI26182199 MLS ⋅ Active Status

Exceptional investment opportunity in the heart of Grover Beach! 590 South 6th Street offers strong income potential in a prime coastal location just minutes from the beach, shopping, dining, and easy freeway access. This well-positioned property presents a fantastic opportunity for investors looking to expand their portfolio or owner-occupants seeking supplemental rental income. A standout feature of the property is the presence of three separate 2-car garages, providing ample parking, storage, and added rental value— a rare and highly desirable amenity in this area. The triplex offers living features that boost tenant appeal and offers flexibility for long-term or future use. Located on a quiet residential street yet close to all that the Central Coast has to offer, this property combines location, functionality, and income potential. Whether you’re looking for steady cash flow, appreciation, or both, 590 South 6th Street is an opportunity that you can’t afford to pass up. Bring your offer today— this newly priced offering won’t last long!

590 S 6th, Grover Beach

$1,725,000

SC26164200 MLS ⋅ Active Status

Check out this real estate investment opportunity located in the Embarcadero neighborhood of Morro Bay, CA ! Centrally located near 3 stacks and a rock, a 1945 built triplex. 1163 Scott A is upstairs with 3 BR, 1 full bath and indoor laundry, views of Morro Rock and the Harbor rented @ $2535/mo., 1163 Scott B is downstairs, large 1BR, 1Bath plus office and indoor laundry rented @ $1744/mo., and 1160 West downstairs Commercial unit rented @ $2300/mo. There is a detached 1 car garage and 4 off street parking spaces. Per the San Luis Obispo County Tax Assessor record the total square footage of the building is 3,094. The lot size is 40.9 ft x 112 ft street to street. Fully occupied with long-term tenants and professionally managed. Second home opportunity to use the upstairs unit in between vacation renters and collect rents from the other 2 units.

1160 West, Morro Bay

$1,375,000

SC26147377 MLS ⋅ Active Under Contract Status

Unlock a rare, coastal powerhouse just steps from the sand in the highly coveted heart of Shell Beach. This turnkey, income-generating triplex is a dream asset for savvy investors or owner-occupants looking for a subsidized beach lifestyle. The premium layout features two upper-level 1-bedroom, 1-bathroom units designed to maximize the coastal experience, boasting remodeled finishes, modern appliances, and private balconies with ocean views. Downstairs, a spacious, separate studio unit with its own full bathroom rounds out this high-utility property. Unlike standard beach properties plagued by gridlock, this lot eliminates the ultimate coastal headache by offering unmatched infrastructure: 2 private garages plus an attached parking lot for 5 additional off-street vehicles. Complete with on-site laundry facilities and locked storage rooms perfect for surfboards and tenant gear, this asset offers the ultimate blend of luxury and financial resilience. Don't miss this exceptionally rare chance to own a multi-unit slice of paradise with Shell Beach's premier dining and ocean access directly at your doorstep.

111 Boeker Avenue, Pismo Beach

$1,375,000

3 Beds ⋅ 3 Baths ⋅ SC26125516 MLS ⋅ Active Under Contract Status

Unlock a rare, coastal powerhouse just steps from the sand in the highly coveted heart of Shell Beach. This turnkey, income-generating triplex is a dream asset for savvy investors or owner-occupants looking for a subsidized beach lifestyle. The premium layout features two upper-level 1-bedroom, 1-bathroom units designed to maximize the coastal experience, boasting remodeled finishes, modern appliances, and private balconies with ocean views. Downstairs, a spacious, separate studio unit with its own full bathroom rounds out this high-utility property. Unlike standard beach properties plagued by gridlock, this lot eliminates the ultimate coastal headache by offering unmatched infrastructure: 2 private garages plus an attached parking lot for 5 additional off-street vehicles. Complete with on-site laundry facilities and locked storage rooms perfect for surfboards and tenant gear, this asset offers the ultimate blend of luxury and financial resilience. Don't miss this exceptionally rare chance to own a multi-unit slice of paradise with Shell Beach's premier dining and ocean access directly at your doorstep.

111 Boeker Avenue, Pismo Beach

$1,525,000

PI26142440 MLS ⋅ Active Status

OPPORTUNITIES GALORE! INCOME + MULTIGENERATIONAL LIVING + COUNTRY LIFESTYLE! What if your next home could help pay for itself? This truly unique property offers an incredible combination of income potential, flexibility, privacy and rural living—all while remaining close to the amenities you need! The property features a FULLY PERMITTED 2-bedroom, 1-bathroom ADU plus an approximately 2,700 sq. ft. primary residence currently configured into two separate living spaces, creating exceptional possibilities for extended family, guests, rental income or a “house hack” lifestyle. The main living area offers approximately 1,700 sq. ft. of SINGLE-STORY, NO-STEP living with 3 bedrooms and 2 bathrooms. Extensive improvements include a beautifully remodeled kitchen and refreshed bathrooms, creating a comfortable and inviting space. The remaining approximately 1,000 sq. ft. has been transformed into an incredible private living space with its own entrance and yard. Imagine a HUGE downstairs living area, then retreat upstairs to a spacious private suite featuring an improved ensuite bathroom, impressive walk-in closet and private deck with peaceful views. And there’s more! The property offers three 2-car garages, providing an abundance of parking, storage, workspace and hobby potential. With Residential Rural zoning, you can embrace the country lifestyle with possibilities for horses, chickens and FFA/4-H activities. A sheltered area is already in place! Enjoy the feeling of being away from it all while remaining conveniently close to shopping, beaches, the wine trail and everyday amenities. This isn't simply a home—it’s an opportunity, a lifestyle and a potential income-producing property all in one. Already generating income, this may be your chance to see how you can be paid to own your own slice of heaven! Properties offering this combination of flexibility, income potential and rural lifestyle are exceptionally rare. Come see the possibilities for yourself—this one deserves a look! Check out the Virtual tour!

670 Camino Contento, Arroyo Grande

$815,000

4 Beds ⋅ 2 Baths ⋅ PI26108385 MLS ⋅ Active Status

PRICED to SELL...Use your imagination. Zoned as Residential Multiple Family property with currently 3 rentals available. You could live on site and rent out two other rentals. Near the ocean in Oceano, California. Property is in need of updates, but if you are handy this would be a great income project. Parking at the rear of the lot. Not too far from shopping, entertainment and some of the best weather conditions on the Central Coast.

1810 Ocean, Oceano

$1,649,000

4 Beds ⋅ 4 Baths ⋅ NS26056201 MLS ⋅ Active Status

Perfect location, live at the beach with rental property attached Exceptional mixed-use property in one of the most desirable locations in Morro Bay. Ideally situated within walking distance to both the vibrant Morro Bay Embarcadero and charming downtown shops and restaurants, this property offers strong income potential paired with incredible ocean views. The property features three separate units: Upstairs residential unit: Spacious 3-bedroom, 2-bathroom residence featuring a private balcony with stunning ocean and rock views. The living room and kitchen both capture the coastal scenery creating a bright and inviting living space. Commercial office space: Located downstairs, this securely rented office unit has been occupied by a long-term tenant, providing reliable income. Additional Residential Unit: Comfortable 1-bedroom, 1 bath unit offering flexibility for rental income, guest use or extended living. The property also included two 2-car garages, providing dedicated parking and storage for the residential units, an excellent amenity in this sought -after coastal area. Don't miss this rare opportunity to own this versatile income property in the heart of Morro Bay.

1187 Main, Morro Bay

San Luis Obispo County Homes with Triplex Subtype

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