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$2,900,000

  • For Sale
  • Active
  • Multi-Family
  • Updated 13 days ago
See This Home
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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.

Full Property Details for 687 Islay

General

  • Price: $2,900,000
  • Status: Active
  • Type: Multi-Family
  • Source: MRMLS
  • MLS ID: SC26013167
  • Updated: 5/15/2026
  • Days on Market: 98 days
  • Added to Site: 104 day(s) ago

Interior

  • Rooms/Areas: Formal Entry, Attic, Laundry, Bonus Room, Basement, Foyer, Center Hall
  • Interior Features: Laminate Counters, Built-in Features, Wainscoting, High Ceilings, Ceiling Fan(s), Storage
  • Fireplace(s): Gas, Free Standing
  • Appliances: Water Heater, Refrigerator, Gas Range, Dishwasher
  • Flooring: Carpet, Wood

Rooms

Other Rooms

  • Laundry: Gas Dryer Hookup, Community

Additional Information

  • Pool Description: None
  • Spa Description: None

Exterior

  • Exterior Features: Lighting

Parking

  • Garage Spaces: 6
  • Parking Features: On-Site, Garage (Single Door), Driveway Level, Driveway, Side-by-Side, Garage Faces Side, Unpaved, Off-Site, Unassigned
  • Parking: On-Site, Garage (Single Door), Driveway Level, Driveway, Side-by-Side, Garage Faces Side, Unpaved, Off-Site, Unassigned

Location

  • Area: SLO - San Luis Obispo
  • County: San Luis Obispo
  • Development Name: SLO - San Luis Obispo
  • Driving Directions: Corner of Broad and Islay

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Fireplace(s), Natural Gas, Wood Stove

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 10
  • # Electric Meters: 10

Structural Information

  • Architectural Style: Victorian
  • Foundation: Stone, Concrete Perimeter, Raised
  • Roof: Composition, Shingle
  • Windows: Bay Window(s), Wood Frames, Skylight(s), Screens
  • Doors: Sliding Doors, Double-Door Entry, Panel Doors
  • Entry Location: front
  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 5,888
  • Year Built: 1895

Unit Information

Unit 1

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 2

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 4

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 5

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 6

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 7

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 8

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 9

  • Number of Units: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Additional Structures

  • Other Structures: Workshop, Storage, Shed(s), Outbuilding

Lot Features

  • Property View: City Lights, Neighborhood, Hills
  • Lot Size (Acres): 0.476
  • Lot Size (Sq. Ft.): 20,735
  • Lot Size Source: Assessor
  • Lot Description: Yard, Lawn, Level with Street, Front Yard, Back Yard, Lot 20000-39999 Sqft, Walking Street, 6-10 Units/Acre, Garden, Corner Lot

Financial Considerations

  • Price Per Sq. Ft.: $662.36
  • Price Per Unit: 322222

Listed by Central Coast Sotheby's International Realty, Linda Wilson and Central Coast Sotheby's International Realty, Aimee Edsall

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Listing agents

— 687 Islay —

  • Linda Wilson

    Central Coast Sotheby's International Realty

  • Aimee Edsall

    Central Coast Sotheby's International Realty

805-801-3232

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 687 Islay

School District:San Luis Coastal Unified School District
NameGradesDistance
Hawthorne Elementary School, San Luis Obispo, CA
2125 Story Street, San Luis Obispo, CA 93401
K-60.3 mi
Laguna Middle School
11050 Los Osos Valley Road, San Luis Obispo, CA 93405
7-82.2 mi
San Luis Obispo High School
1499 San Luis Drive, San Luis Obispo, CA 93401
9-120.9 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 687 Islay Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/07/2026
Price Reduced
$2,900,000
-19.44%
MLS
4/19/2026
Price Reduced
$3,600,000
-7.69%
MLS
2/13/2026
Listed
$3,900,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 687 Islay

Year
Property Taxes
Change
Tax Assessment
Change
2025
$3,339
1%
$261,337
2%
2023
$3,306
—
$256,214
2%
2023
$3,306
6%
$251,192
2%
2022
$3,113
3%
$246,267
2%
2021
$3,034
1%
$241,439
1%
2020
$3,002
1%
$238,965
2%
2019
$2,959
2%
$234,281
2%
2018
$2,909
2%
$229,688
2%
2017
$2,849
-5%
$225,186
2%
2016
$3,005
29%
$220,771
2%
2015
$2,331
-5%
$217,456
2%
2014
$2,459
—
$213,197
—
2013
$2,450
—
$212,235
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 687 Islay

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by Central Coast Sotheby's International Realty, Linda Wilson and Central Coast Sotheby's International Realty, Aimee Edsall

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687 Islay, San Luis Obispo, CA 93401 (MLS# SC26013167) is a Multi-Family property with 9 units containing 0 bedrooms and 0 full bathrooms. 687 Islay is currently listed for $2,900,000 and was received on February 13, 2026. Want to learn more about 687 Islay? Do you have questions about finding other Multi-Family real estate for sale in San Luis Obispo? You can browse all San Luis Obispo real estate or contact a Coldwell Banker agent to request more information.

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